HomeMy WebLinkAbout01/02/2024 09. Ordinance to create a fund to account for the Aquatic Center at MLK Jr. Park (First Reading) 1
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BUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDA STATEMENT
Item No. 9.
For Meeting of: January 2, 2024
ITEM TITLE: Ordinance to create a fund to account for the Aquatic Center at
MLK Jr. Park(First Reading)
SUBMITTED BY: *Mark Roberts, Director of Finance and Budget
SUMMARY EXPLANATION:
The attached Ordinance authorizes the establishment of a Special Revenue Fund 132 to account
for the Aquatic Center at MLK Jr. Park. Use of a Special Revenue fund to account for revenues
and expenditures in this program will ensure that all resources will be used only for the Aquatic
Center at MLK Jr. Park.
ITEM BUDGETED: Yes
STRATEGIC PRIORITY: Public Trust and Accountability
APPROVED FOR SUBMITTAL BY THE CITY MANAGER
RECOMMENDATION:
First reading of Ordinance.
ATTACHMENTS:
Description Upload Date Type
❑ Ordinance 12/22/2023 Ordinance
a Presentation 12/27/2023 Presentation
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ORDINANCE NO. 2024-
AN ORDINANCE establishing a Special Revenue Fund 132 "Aquatic Center at MLK
Jr. Park Fund"; specifying sources of revenue for such fund; and designating the purposes
of and the manner of authorizing expenditures from such fund.
WHEREAS, the City is in the process of designing and constructing an aquatic
center at Martin Luther King, Jr. Park within the City of Yakima to provide recreational
opportunities to the residents of the City; and
WHEREAS, after design and construction is complete, the City will have
maintenance and operation obligations associated with the aquatic center; and
WHEREAS, the City desires to establish an operating fund entitled"Aquatic Center
at MLK Jr. Park Fund" to segregate money received for the Aquatic Center at MLK Jr.
Park and separate accounting of the expenditures reserved for the day-to-day operation
and maintenance of said aquatic center; and
WHEREAS, the City desires to account for revenues received from the Aquatic
Center at MLK Jr. Park or otherwise donated or earmarked for the aquatic center, and use
those revenues for expenditures specifically related to the Aquatic Center at MLK Jr. Park,
including improvements, maintenance, operations, and enhancement; and
WHEREAS, all funds received from Aquatic Center at MLK Jr. Park activities,
contributions from private sources, or contributions from other city funds as authorized by
the council shall be placed in this fund 132 and used for the purposes outlined herein; and
WHEREAS, the City Council for the City of Yakima finds that it is in the best
interests of the city and its residents to create the Aquatic Center at MLK Jr. Park Fund
and have revenue gained from the aquatic center, or donated or earmarked for the aquatic
center, be used for operation, maintenance, improvement, and enhancement of the
Aquatic Center at MLK Jr. Park; now, therefore,
BE IT ORDAINED BY THE CITY OF YAKIMA:
Section 1. The City Council does hereby incorporate the above recitals as findings in
support of this ordinance to establish a separate Special Revenue Fund to account for the
revenues and relevant expenditures associated with the Aquatic Center at MLK Jr. Park.
Section 2. There is hereby added a new City of Yakima Municipal Code Chapter 3.85,
which establishes the Aquatic Center at MLK Jr. Park Fund for the purpose of
segregating revenues received through and expenditures eligible pursuant to the
ordinance and reads as follows:
Chapter 3.85
Aquatic Center at MLK Jr. Park Fund
3.85.010 Fund Created.
There is hereby a fund created to be known as the Aquatic Center at MLK Jr. Park Fund.
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3.85.020 Source of Funds.
The Aquatic Center at MLK Jr. Park Fund shall consist of money collected from the
Aquatic Center at MLK Jr. Park activities, contributions for the park's purposes from
private sources, or contributions from other City funds as authorized by the City Council,
and may be further supported by budget allocation of the property tax or other revenue
source not restricted in use by law.
3.85.30 Purpose and Expenditures
The money in the Aquatic Center at MLK Jr. Park Fund may be used to meet any
expense incurred by the City of Yakima in the course of its operation of the Aquatic
Center at MLK Jr. Park; provided, that no expenditures shall be made from such fund
unless the city council shall approve such expenditure by passing an ordinance
appropriating money within the fund for the purpose for which the expenditure is to be
made or by including an appropriation for such purpose in the budget.
Section 3. This ordinance is shall take effect immediately upon its passage, approval and
publication as provided by law and by the Charter.
Section 4. Severability. If any section, subsection, paragraph, sentence or clause of this
ordinance is declared invalid or unconstitutional for any reason, such decision shall not
affect the validity or constitutionality of the remaining portions of the ordinance.
PASSED BY THE CITY COUNCIL, signed and approved this 16th day of January 2024.
, Mayor
ATTEST:
Rosalinda Ibarra, City Clerk
First Reading:
Publication Date:
Effective Date:
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111M11-
AquaticCenterat Martin
Luther King Jr Park Fund - 132
Mark Roberts
Director of Finance & Budget
January 2, 2023
Ordinance
■ Law created by local government (e.g., City Council).
■ Ordinance required to adopt or amend budget.
■ City of Yakima requires ordinance to establish new fund.
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Fund Accounting
• Fund — self-balancing set of accounts.
• Fund Accounting — accounting system for separately recording &
reporting transactions of various funds established for specific activities,
e.g. :
• General Fund — primary operating fund;
• Wastewater Operations Fund — fund for operation of wastewater
enterprise.
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2023-24 Biennium Budget Modification Ordinance
• Adopted December 5, 2023.
• Authorized mid-biennial modification of 2023-24 budget (i.e., 2024
budget), including appropriation of $719,000 for operation &
maintenance of Aquatic Center at Martin Luther King Jr Park upon
establishment of fund.
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