(A) There is hereby established a fund to be known as the Retirement Benefit Reserve Fund and Retirement Benefit Reserve Water Works Fund. The necessity for establishing these funds is to provide for separate accounting records for revenues and expenditures associated with retirement vacation, sick leave and longevity leave pay.
(B) The City Manager, or her designee, is authorized to make expenditures from the fund for any lawful purpose that is consistent with the purpose for which this fund is established.
(Ord. 06-14, passed 12-15-14)