Shafter Municipal Code Ch. 13.16 Utility Funds

A. There is created and established a special fund to be known as the "refuse collection enterprise fund." All revenues and moneys realized from the operation of the city's refuse system, as received, and all assets of the city's refuse system shall be credited to this fund, and all expenditures relating to the city's refuse system shall, as made, be debited and charged against the refuse enterprise fund.

B. At the close of each fiscal year all surplus money remaining in the refuse collection enterprise fund, over and above outstanding demands and liabilities relating to the city's refuse collection system and its operation, shall be transferred to the reserve fund to be known as the "refuse collection enterprise fund reserve." The refuse collection enterprise fund reserve shall be created for the costs of maintaining, operating and replacing assets of the city's refuse system. Accounting for revenues and expenditures from the reserve fund shall be accomplished annually in accord with generally accepted accounting practices.

C. No transfer shall be made of money in the refuse collection enterprise fund reserve, and no expenditure shall be incurred against, or paid from, the refuse collection enterprise fund reserve except for capital outlay and expenditure for the account and benefit of the city's refuse collection system upon order of the city council.

(Ord. 404 § 2,1988: prior code § 4-6-5)

A. There is created and established a special fund to be known as the "sewage disposal enterprise fund." All revenues and moneys realized from the operation of the city's sewer system, as received, and all assets of the city's sewer system shall be credited to this fund, and all expenditures relating to the city's sewer system shall, as made, be debited and charged against the sewer enterprise fund.

B. At the close of each fiscal year all surplus money remaining in the sewage disposal enterprise fund, over and above outstanding demands and liabilities relating to the city's sewage disposal system and its operation, shall be transferred to the reserve fund to be known as the "sewage disposal enterprise fund reserve." The sewage disposal enterprise fund reserve shall be created for the costs of maintaining, operating and replacing assets of the city's sewer system. Accounting for revenues and expenditures from the reserve fund shall be accomplished annually in accord with generally accepted accounting practices.

C. No transfer shall be made of money in the sewage disposal enterprise fund reserve, and no expenditure shall be incurred against, or paid from, the sewage disposal enterprise fund reserve except for capital outlay and expenditure for the account and benefit of the city's sewage disposal system upon order of the city council.

(Ord. 404 § 1, 1988: prior code § 4-6-4)

A. There is created and established a special fund to be known as the "water enterprise fund." All revenues and moneys realized from the operation of the city's water system, as received, and all assets of the city's water system shall be credited to this fund, and all expenditures relating to the city's water system shall, as made, be debited and charged against the water enterprise fund.

B. At the close of each fiscal year all surplus money remaining in the water enterprise fund, over and above outstanding demands and liabilities relating to the city's water system and its operation, shall be transferred to the reserve fund to be known as the "water enterprise fund reserve." The water enterprise fund reserve shall be created for the costs of maintaining, operating and replacing assets of the city's water system. Accounting for revenues and expenditures from the reserve fund shall be accomplished annually in accord with generally accepted accounting practices.

C. No transfer shall be made of money in the water enterprise fund reserve, and no expenditure shall be incurred against, or paid from, the water enterprise fund reserve except for capital outlay and expenditure for the account and benefit of the city's water system upon order of the city council.

(Prior code § 4-6-3)

Upon recommendation of the city administrator, and authorization and approval of the city council, transfer of reserve funds may be made from one of the funds created by this chapter (the lending fund) to another fund created by this chapter (the borrowing fund). Any such transfer shall be treated as a loan only. Interest shall be paid by the borrowing fund to the lending fund in an amount equal to the interest lost by the lending fund as a result of the transfer. No transfer of funds shall be permitted which will hinder the lending fund's ability to fund authorized expenditures which are intended to be made within the particular enterprise fund.

(Prior code § 4-6-6)