A. Segregation Of Funds: The capital improvement reserve funds collected during the fiscal year shall be segregated in an interest bearing account from other municipal funds; the funds so accumulated shall annually at the beginning of each subsequent fiscal year be transferred to the general fund of the city. It may then be budgeted for capital improvements of the city during that fiscal year.
B. Allocation Of Funds: Funds placed in the general fund from the capital improvement reserve shall be allocated and budgeted for capital improvements on an annual basis. These funds shall not be used for ordinary short term acquisitions by the city nor for salaries, supplies, fees or other expenditures which are essentially ordinary operating expenses. (Ord. 2002-03, 1-29-2002)