(A) The city receives inflows from revenue and other financing sources from various sources for use in special revenue funds. Special revenue funds will expend those resources on the specific purpose of the fund. The intention of this spending policy is to identify the expenditure order of resource categories for all special revenue funds. Resources will be categorized according to Generally Accepted Accounting Principles (GAAP) for state and local governments. When both restricted and unrestricted resources are available in a special revenue fund, the following spending policy will apply:
(1) First Restricted;
(2) Second Committed; and
(3) Third Assigned.
(B) The City Council, Mayor, and Clerk/Treasurer individually have the authority to express assignments in special revenue funds.
(Res. 909, passed 6-27-2011)