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(a) There is hereby established pursuant to K.S.A. 12-1,118 a special revenue fund to be designated as the capital improvements fund. The capital improvements fund may receive budgeted transfers from the general operating fund or any other fund having cash or other resources properly budgeted and legally available for such purpose. The moneys in the capital improvements fund may be used to finance, in whole or in part, any public improvement need set forth in the adopted capital improvement plan, including the repair, restoration and rehabilitation of existing public facilities. Disbursements may be made for engineering and other advance public improvement plans and studies. Reimbursements may be made to the fund from bond proceeds, special assessments, or State or Federal aid available for the completed project.

(b) Procedures for the management of this fund shall be established by the Director of Administrative and Financial Services in accordance with generally accepted accounting principles. The procedures shall be approved by the City Manager. Pursuant to K.S.A. 12-1,118, except for transfers into the capital improvements planning fund, the fund shall not be subject to the provisions of the general budget law (K.S.A. 79-2925 through 79-2937 inclusive, and amendments thereto). Provided, however, the annual operating budget as published and certified shall show the amount on hand in such fund and the amounts transferred, expended and reimbursed during the prior year. (Ord. 18383 § 7, 1-25-05; Ord. 17226 § 85, 1-27-98. Code 1995 § 2-324.)

Cross References:Administrative and Financial Services Department, TMC 2.20.020.