The following funds may be established and shall be used as necessary to provide for the proper accounting of all financial activities of the municipality.
   (A)   The General Fund to account for the general governmental operation and all financial transactions not properly accounted for in another fund.
   (B)   Special Revenue Fund to account for proceeds of special revenue sources, other than special assessments, or to finance specified activities as required by law or administrative regulation.
   (C)   Debt Service Funds to account for the payment of interest and principal on long-term debts other than special assessment and revenue bonds.
   (D)   Capital Improvement Reserve Fund to account for the receipt and disbursement of moneys including bond funds used for the acquisition of capital facilities other than those financed by special assessment and revenue bonds.
   (E)   Trust and Agency Funds to account for assets held by the city as trustee or agent for individuals, private organizations, and other governmental units.
   (F)   Special Assessment Funds to account for special assessments levied to finance public improvements or services deemed to benefit the properties against which the assessments are levied.
('91 Code, § 34.02)  (Ord. 2477, passed 9-15-83)
Statutory reference:
   Establishment of funds, see R.C. § 5705.09