§ 3.09.020. Definitions.

Latest version.

There are three types of Funds:
A.

RESTRICTED FUNDS: Restrictions on the use of these funds are imposed by an outside source such as creditors, grantors, contributors, laws, or regulations governing use.

B.

CAPITAL FUNDS: Established by action of the Board and designated for specific purposes. This fund is utilized primarily to fund capital and asset costs, for both new and replacement projects.

C.

LIQUIDITY FUNDS: Established by action of the Board to safeguard the financial flexibility and stability of the District and to maintain stable customer charges and rates from year to year. Liquidity may be funded from accumulated revenues and when appropriate available short-term liquidity arrangements.

( Res. No. 2015-11-5, § 1, 11-24-2015 ; Res. No. 2018-12-1 , § 2, 12-11-2018)

                    
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