A. Capital Improvement Fund: There is hereby established in the city a new special purpose budgetary fund to be called the capital improvement fund. The purpose of said fund is to account for financial resources to be used for the acquisition or construction of major capital facilities. This fund shall be an independent fiscal and accounting entity with a self-balancing set of accounts. (1985 Code § 2-11-1)
B. Internal Service Fund: There is hereby established in the city a new special purpose budgetary fund to be called the internal service fund. The purpose of said fund is to provide financing for services rendered to various funds and departments of the city on a cost-reimbursement basis, to reduce the likelihood of duplication and excessive costs and to provide for the proper maintenance and use of city equipment and proper use of city personnel. This fund shall be an independent fiscal and accounting entity with a self-balancing set of accounts. (1985 Code § 2-11-2)
C. Motor Pool Fund: There is hereby established in the city a special purpose budgetary fund to be called the motor pool fund. The purpose of said fund is to provide for the most economical purchase, repair and maintenance of city equipment used by various city departments. This fund shall be an independent fiscal and accounting entity with a self-balancing set of accounts. (1985 Code § 2-11-3)
D. Economic Development Fund: There is hereby established in the city a special purpose budgetary fund to be called the economic development fund. The purpose of such fund is to stimulate projects and improvements that will contribute to economic development in the city. Initial funding shall be a transfer of one hundred thousand dollars ($100,000.00) from the fiscal year 1988 general fund, which transfer is hereby authorized. This shall be an independent fiscal and accounting entity with a self-balancing set of accounts. (1985 Code § 2-11-4)