(A) The Finance Director is authorized to pool cash balances from the several different funds of the city for investment purposes.
(B) Interest on invested funds will be distributed to the funds listed below based on percentages computed from three month moving averages of balances in each fund.
(C) Interest on certificates of deposit will be distributed in the month received. Interest from the Star Ohio Investment Pool will be distributed monthly. Earnings from future investment vehicles will be distributed in the month received.
(D) Funds receiving distributions will be:
(1) General;
(2) Law Enforcement and Education;
(3) Park;
(4) Law Enforcement;
(5) Civic Center;
(6) Water;
(7) Sewer;
(8) Pool; and
(9) Half Percent.
(E) Other funds are deemed to be either no balance funds or funds supported by one of the funds listed above which receive distributions. Any funds established by the city required by law to receive earnings will be included.
(Ord. 2973, passed 4-11-95)