HomeMy WebLinkAboutReg 2011-02-07 Item 4E - Ordinance - Central Treasury Fund COUNCIL AGENDA SYNOPHS
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ITEM INFORMATION
CAS NUMBER: 11-012 I ORIGINAL AGENDA DATE: JANUARY 24, 2011
.\GIND,\ I'I'1?,M TITLE Ordinance establishing a Central Treasury fund for the City
STAFF PRESENTER: SHAWN HUNSTOCK
C. \'I'J GORY Discussion I I Motion Resolution Ordinance I I Bid Award I 1 Public Hearing n Other
Mtg Date 1/24/11 Mtg Date Mtg Date Mts Date 2/7/11 Mtg Date Mtg Date Mtg Date
SPONSOR I 1 Council Mayor Adm Svcs DCD Finance 1 Fire Legal P&R [1 Police U Pik
SPONSOR'S City Council is being asked to approve an ordinance establishing a Central Treasury fund
SUMMARY for the City. The new fund will consolidate and simplify the recording of cash and
investment entries, as well as increase investment opportunities through the pooling of
cash into a single fund.
This item is scheduled for Council consideration at the 01/24/11 Committee of the Whole
and 02/07/11 Regular Council meeting.
RI ?\'IEWED BY COW Mtg. CA &P Cmte Z F &S Cmte Transportation Cmte
P1 Utilities Cmte n Arts Comm. Parks Comm. Planning Comm.
DA1'B: 01/19/2011 CHAIR HOUGARDY
RECOMMENDATIONS:
SPONSOR /ADMIN. Finance
COMMITTEE Unanimous approval; Forward to Committee of the Whole
CO IMPACT ,F SOURCE
ExP1iNDITURIS REQUIRED AMOUNT B UDGETED APP ROPRIATION REQUIRED
Fund Source:
COMM ents:
MTG. DATE R OF. COUN ACTION
01/24/11 I Forward to next Regular Meeting
MTG. DATE J ATTACHMENTS
01/24/11 I Informational Memorandum dated 01/12/11
Draft Ordinance
Minutes from the Finance and Safety Committee Meeting of 1/19/11
2/7/11 Ordinance in final forrn
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Washington
Ordinance No.
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF TUKWILA,
WASHINGTON, RELATING TO THE ESTABLISHMENT OF A CENTRAL
TREASURY FUND, SPECIFICALLY REPEALING AND RESTATING
TUKWILA MUNICIPAL CODE CHAPTER 3.24; REPEALING ORDINANCE
NO. 659 §1; PROVIDING FOR SEVERABILITY; AND ESTABLISHING AN
EFFECTIVE DATE.
WHEREAS, the current Payroll and Claims Funds chapter of the Tukwila Municipal
Code was established in 1971 by Ordinance No. 659, and operational changes require
an update to the regulations; and
WHEREAS, the City Council recognizes the efficiencies gained by consolidating
and simplifying the accounting for cash and investments for the City; and
WHEREAS, the City Council has considered the additional opportunities for
investing and increased investment earnings potential with a Central Treasury Fund;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF TUKWIL A,
WASHINGTON, HEREBY ORDAINS AS FOLLOWS:
Section 1. Regulations Established. Tukwila Municipal Code Chapter 3.24,
"Central Treasury Fund," is hereby restated to read as follows:
TIM Section 3.24.010, "Established." There is hereby established in the City,
pursuant to RCW 35.21.085, a special fund to be known as the Central Treasury Fund
for payment of salaries, wages, employee benefits, and claims against the City.
Section 2. Repealer. Ordinance No. 659 §1 is hereby repealed.
Section 3. Severability. If any section, subsection, paragraph, sentence, clause or
phrase of this ordinance or its application to any person or situation should be held to
be invalid or unconstitutional for any reason by a court of competent jurisdiction, such
invalidity or unconstitutionality shall not affect the validity or constitutionality of the
remaining portions of this ordinance or its application to any other person or situation.
Section 4. Effective Date. This ordinance or a summary thereof shall be published
in the official newspaper of the City, and shall take effect and be in full force five days
after passage and publication as provided by law.
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PASSED BY THE CITY COUNCIL OF THE CITY OF TUKWILA, WASHINGTON,
at a Regular Meeting thereof this day of 2011.
ATTEST /AUTHENTICATED:
Christy O'Flaherty, City Clerk Jim Haggerton, Mayor
Filed with the City Clerk:
APPROVED AS TO FORM BY: Passed by the City Council:
Published:
Effective Date:
Shelley M. Kerslake, City Attorney Ordinance Number:
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