022-11 - Ordinance - Establishing and Renaming FundsIntroduced by: City Treasurer
Requested by: Finance Committee
Drafted by: City Treasurer
Reviewed by: City Attorney
Introduced: December 13, 2011
Adopted: December 13, 2011
ORDINANCE NO. 022-11
AN ORDINANCE OF THE CITY OF PORT ORCHARD,
WASHINGTON, ESTABLISHING A CRIMINAL JUSTICE FUND,
PATHS & TRAILS FUND, STORM DRAINAGE — EQUIPMENT
REPLACEMENT FUND; RENAMING THE STREET FUND THE CITY
STREET FUND, RENAMING THE ARTERIAL STREET FUND THE
STREET CAPITAL PROJECTS FUND, AND RENAMING THE
CONTINGENCY FUND THE STABILIZATION FUND
WHEREAS, the Governmental Accounting Standards Board ("GASB") has adopted
Statement 54 ("GASB 54"), a new standard for governmental fond balance reporting and
governmental fund type definitions that became effective in governmental fiscal years
starting after June 15, 201o; and
WHEREAS, for general purpose external financial reporting under generally
accepted accounting principles (GAAP), governments are required to follow Statement 54;
and
WHEREAS, this new standard does not change the total amount of a given fund
balance, but it substantially alters the categories and terminology used to describe the
components of a fund balance. The new categories and terminology reflect an approach that
focuses, not on financial resources available for appropriation within a fund, but on the
extent to which the City is bound to honor constraints on the use of the funds; and
WHEREAS, the City Treasurer has completed an audit of existing Funds and
General Ledger account descriptions, identifying those that do not meet the standard; now,
therefore,
THE CITY COUNCIL OF THE CITY OF PORT ORCHARD, WASHINGTON,
DO ORDAIN AS FOLLOWS:
SECTION 1. There is hereby created a fund to be known as the "Criminal Justice
Fund." This fund is funded by State Shared Revenue and restricted by RCW 82. 14.320 (6),
"Moneys distributed under this section shall be expended exclusively for criminal justice
Ordinance No.022-11
Paee 2 of
purposes..." The Treasurer is hereby directed to place said funds into a special revenue fund
entitled the Criminal Justice Fund. Disbursements from said fund by the City Treasurer
shall be made upon proper authorization by the City Council. The Treasurer is hereby
directed to transfer the balance of the Criminal Justice amount as of December 31, 2011
from the Current Expense Fund to the Criminal Justice Fund.
SECTION 2. There is hereby created a fund to be known as "Paths and Trails
Fund." Funded with funds received from the Motor Vehicle Fund, once a local government
has a comprehensive plan which includes provisions for paths and trails, the requirements
of RCW 47.030.050 (r) apply, "The amount expended by a city, town, or county as
authorized by RCW 47.30.030 shall never in any one fiscal year be less than 0.42 percent of
the total amount of funds received from the motor vehicle fund according to RCW
46.68.ogo. However, this section does not apply to a city or town in any year in which the
0.42 percent equals five hundred dollars or less, or to a county in any year in which the 0.42
percent equals three thousand dollars or less. Also, a city, town, or county in lieu of
expending the funds each year may credit the funds to a financial reserve or special fund, to
be held for not more than ten years, and to be expended for the purposes required or
permitted by RCW 47.30.030." The purpose of this fund is to establish and maintain paths
and trails for pedestrians, equestrians or bicyclists as a part of streets, roads and highways.
Disbursements from said fund by the City Treasurer shall be made upon proper
authorization by the City Council.
SECTION s. There is hereby created a fund to be known as "Storm Drainage —
Equipment Replacement Fund" into which monies will be placed as designated by the City
Council. Disbursement from said Fund by the City Treasurer shall be made upon proper
authorization by the City Council.
SECTION 4. For accounting and reporting purposes:
r. The Street Fund is renamed City Street Fund
2. The Arterial Street Fund is renamed Street Capital Projects Fund
3. The Contingency Fund is renamed the Stabilization Fund
SECTION .5. If any section, sentence, clause or phrase of this ordinance should be
held to be invalid or unconstitutional by a court of competent jurisdiction, such invalidity or
unconstitutionality shall not affect the validity of constitutionality of any other section,
sentence, clause or phrase of this ordinance.
SECTION 6. This ordinance shall be in full force and effect five (5) days after
posting and publication as required by law. A summary of this Ordinance may be published
in lieu of the entire ordinance, as authorized by State Law.
Ordinance No.022-11
Page 3 of 3
PASSED by the City Council of the City of Port Orchard, APPROVED by the
and attested by the City Clerk in authentication of such passage this i th day of De
2ou. O
at
atricia J.y4rkpatiick, MMC, City Clerk
APPROVED AS TO FORM:
Gregory A. co y, City ttorney
Sponsored by:
n Clauson, Councilmember
NOTICE OF CITY OF PORT ORCHARD
ORDINANCE
The following is a summary of an Ordinance approved by the Port Orchard City Council at their regular
Council meeting held December 13, 2011.
ORDINANCE NO. 022-11
AN ORDINANCE OF THE CITY OF PORT ORCHARD,
WASHINGTON, ESTABLISHING A CRIMINAL JUSTICE FUND,
PATHS & TRAILS FUND, STORM DRAINAGE — EQUIPMENT
REPLACEMENT FUND; RENAMING THE STREET FUND THE
CITY STREET FUND, RENAMING THE ARTERIAL STREET
FUND THE STREET CAPITAL PROJECTS FUND, AND
RENAMING THE CONTINGENCY FUND THE STABILIZATION
FUND
Copies of Ordinance No. 022-11 are available for review at the office of the City Clerk of the City of Port
Orchard. Upon written request a statement of the full text of the Ordinance will be mailed to any
interested person without charge. Thirty days after publication, copies of Ordinance No. 022-11 will be
provided at a nominal charge.
City of Port Orchard
Patti Kirkpatrick
City Clerk
Publish: Kitsap Sun
December 16, 2011