HomeMy WebLinkAbout1990-34 Authorizing Funds/Accounting Methods
RESOLUTION 90- -~
, 'LUTION AUTHORIZING FUNDS AND ACCOUNTING
.L'O BE USED IN THE FINANCIAL MANAGEMENT OF THE
CITY OF ASHLAND FOR THE 1990-91 FISCAL YEAR
WHEREAS, there is a need for a summary of major
resources, a statement of purposes, and a
description of the accounting basis for each fund:
NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS:
That the funds listed on the attached budget pages
are established and used, thereon, to record the
financial affairs of the city of Ashland, in
accordance with the laws applicable to the State of
Oregon:
This Resolution was READ and DULY ADOPTED at a
regular meeting of the city council of the city of
Ashland on the / cf(t~ day of June 1990.
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:-<?b tit ."_? I /'~' /t:: f(.~ t.--i". t.
Nan E. Franklin
city Recorder
SIGNED AND APPROVED this ' y? c'A
1990.
day of Iv-<'- /~ '--
~~~~
Catherine M. Golden
Mayor
ACCOUNTING METHODS
GENERAL FUND
General Fund. This fund shall be used to account for all financial resources except those to be accounted for
in another fund. Resources include working capital carryover, taxes, licenses and permits, intergovernmental
revenue, fines and forfeitures, charges for services, miscellaneous revenues and interfund transfers. Expenditures
are for the Human Resources Division, Economic Development, Police Department, Municipal Court Division,
Fire Department, Senior Program and Department of Community Development. This fund uses the modified
accrual method of accounting.
SPECIAL REVENUE FUNDS
Special Revenue Funds are used to account for the proceeds of specific revenue sources that are legally
restricted to expenditures for specified purposes. Special revenue funds account for transactions on the
modified accrual method of accounting.
Police Serial Lew Fund. The revenue in this fund is from the three year property tax serial levy. Expenditures
are for police department personnel and to maintain staffing levels.
Fire E.M.T. Serial Lew Fund. The only resource in this fund is from the carryover. These monies will be
transferred to the General Fund which is absorbing the EMT functions. All delinquent property tax revenues will
be receipted into the General Fund.
Cemetery Fund. Revenues included in this fund are from cemetery related sales, transfer of interest from the
Cemetery Trust Fund and the cemetery continuing property tax levy. Expenditures are for the care of the
cemeteries.
Band Fund. Revenues include the band continuing property tax serial levy. Expenditures are for the City of
Ashland Band.
Emeraencv 911 Fund. Revenues are from the State of Oregon 9-1-1 telephone excise tax and other local
jurisdictions which use Ashland telephone prefixes. Expenditures are for supervision and maintenance of the
9-1-1 system.
Street Fund. Revenues are from the state road tax, franchise fees, charges for services and miscellaneous
sources. Expenditures are for the maintenance, repair, and surfacing of streets.
Water Quality Fund. This fund accounts for the water operations. Revenues are from charges for services,
and miscellaneous sources. Expenditures are for operating expenses, capital outlay, debt servicH and interfund
transfers.
Sewer Fund. This fund accounts for sewer treatment and collections. Revenues are from charges from services.
Expenditures are for personnel, materials and services, capital outlay and interfund transfers.
Airoort Fund. Revenues are from airport leases and transfers. Expenditures are for airport opE!rations.
Electric Utilitv Fund. Revenues are from charges for services and intergovernmental grants. Expenditures are
for electric utility operations. Utility operations include wholesale power purchases, operating expenses, capital
outlay, debt service, interfund transfers, franchise tax and related purposes.
Parks and Recreation Fund. Revenues are from the parks and recreation continuing property tax levy, charges
for services and miscellaneous sources. Expenditures are for parks and recreation purposes.
Recreation Serial Levy Fund. Revenues are from the three year recreation serial levy. Expenditures are for
swimming pool programs and maintaining facilities on non-dedicated park land.
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ACCOUNTING METHODS
CAPITAL PROJECTS FUNDS
Capital Improvements funds are used to account for financial resources to be used for the acquisition or
construction of major capital facilities (other than those financed by enterprise funds, internal ::;ervice funds,
special assessment funds and trust funds). Capital projects funds use the modified accrual method of
accounting.
Caoital Imorovements Fund. This fund accounts for revenues from interfund transfers, grants, charges for
services and other sources. Expenditures are for construction, property and equipment acquisition and
replacement, improvements and related purposes.
Assessment Improvements Fund. This fund accounts for the construction of special local improvements, usually
streets. Revenues are from short term borrowing, and unbounded assessments. Expenditures am for the entire
cost of the project.
Hosoital Imorovements Fund. This fund accounts for the construction and improvements to the Hospital.
Resources are transferred from the Hospital Fund and interest earnings. Expenditures are for Hospital Capital
Outlay.
Parks Caoital Imorovements Fund. This fund is used to account for resources from grants and interfund
transfers which are to be expended for equipment purchases and major park renovations.
DEBT SERVICE FUNDS
Debt service funds account for the accumulation of resources to be used for the acquisition or construction of
major capital facilities (other than those financed by proprietary funds, special assessments, and trust funds).
Expenditures and Revenues are accounted for on the modified accrual method of accounting.
Bancroft Bond Fund. This fund accounts for revenues from Bancroft (Local Improvement District) bonded
assessments. These are expended for the retirement of local improvement district bonded debt principal and
interest until such debts have been fulfilled.
General Bond Fund. This fund accounts for revenues from interfund transfers that are exp,ended for the
retirement of general obligation debt principal and interest.
General Debt Service Fund. This fund accounts for resources from operating transfers from other funds, which
are used to repay long term contracts or certificates of participation that are not bonded.
Advance Refundina Debt Service Fund. This fund accounts for the 1982 water bonds which were issued to
finance a major renovation of the existing system. These bonds were defeased in September 1985.
Hosoital Bond Fund. This fund accounts for the Hospital Improvements Bond issued to finance the cost of
major improvements to the Ashland Community Hospital. Resources are from transfers from the Hospital Fund.
Continued on next page
xvi
ACCOUNTING METHODS
INTERNAL SERVICE FUNDS
Internal service funds account for the financing of goods or services provided by one departmemt or agency
to other departments or agencies of the governmental unit, or to other governmental units, on a cost
reimbursement basis. Internal service funds use full accrual accounting.
Central Services. This fund is divided into Administration, Finance Department, Miscellaneous, Public Works
and Community Development departments. Expenditures are for personnel, materials and services and capital
outlay for these departments. These functions are supported by charges for services by all direct service
departments and divisions.
Insurance Services Fund. Revenues in this fund are from service charges from other departments, investment
income, and insurance retrospective rating adjustments. Expenditures are for insurance premiums, self
insurance direct claims, and administration.
Eauioment Fund. This fund is used to account for the maintenance and replacement of the City fle!et of vehicles.
Revenues are from equipment rental charges and expenditures are for personnel, materials and services and
capital outlay.
TRUST AND AGENCY FUNDS
Trust and agency funds account for assets held by a governmental unit in a trustee capacity or as an agent
for individuals, private organizations, or governmental units, and/or other funds. These include (a) expendable
trust funds, (b) non expendable trust funds, (c) pension trust funds, and (d) agency funds.
Cemetery Trust Fund. The Cemetery Trust fund is a nonexpendable trust fund which uses the accrual basis
of accounting. Revenues are from interest income and perpetual care service charges on cemete!ry operations.
Expenditures are for the repurchase of plots and transfers of earnings to the cemetery fund for operations.
Parks Trust Fund. This fund is a nonexpendable trust fund and uses full accrual accounting. This 'fund accounts
for funds received from Oregon Shakespearean Festival and other sources. The funds are held in trust and
earnings are spent for maintenance of lower Lithia Park.
ENTERPRISE FUNDS
Enterprise funds account for operations (a) that are financed and operated in a manner similar to private
business enterprise -- where the intent of the governing body is that the costs (expenses, including
depreciation) of providing goods and services to the general public on a continuing basis be financed or
recovered primarily through user charges; or (b) where the governing body has decided that periodic
determination of revenues earned, expenses incurred, and/or net income is appropriated for capital maintenance,
public policy, management control, accountability, or other purposes. Enterprise funds use full accrual basis
of accounting financial statement presentations. The proposed budget includes for the first time accounts
receivables as a component of working capital carryover.
Hosoital Fund. Revenues are from hospital service charges. Expenditures are for hospital related costs.
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