80-42 AUTHORIZING INTERFUND FINANCING, REPAYMENT, ACCOUNTING AND REMUNDERATION

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�� 1 , . , ORDINANCE NO. O �� r ORDINANCE AUTHORIZING INTERFUND FINANCING, REPAYMENT, ACCOUNTING AND REMUNERATION WHEREAS , the General Fund is serviced by the general revenue of the City; and, WHEREAS , other funds of the City are serviced by revenues the application of which is limited to the respective funds serviced ' thereby; and, ' WHEREAS , because cash flow variations , economy and efficiency of operation from time to time dictates transfers between funds and may in the future dictate short-term borrowing for such operations ; and, WHEREAS , it is anticipated that from time to time it will be more expeditious for such transactions to be made among funds of the City in lieu of arrangements with outside entities; and, WHEREAS , good financial practice indicates that the fund benefited by the use of moneys of another fund, or by the use of other property acquired by such other fund, should recompense such other fund for the same; and, WHEREAS, such pertains to the business and affairs of the City. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF DECATUR, ILLINOIS : Section l . That the short-term transfer of money among the various funds of the City from time to time, and the transfer of the use of other property among such funds be , and the same is hereby, authorized. Section 2 . That account be kept of such transfers , and in the case of a transfer of money the same be restored to the fund from which transfer was made so soon as such restoration can reasonably be made . Section 3 . That no such transfer be made except upon approval of the Council by ordinance, resolution, approval of bills and payrolls , approval of the budget or other appropriate formal action.