Skip to main content
This section is included in your selections.

“Assigned fund balance” means a balance that can be appropriated, as needed.

“Beginning fund balance” means accumulated funds from prior years available for use in the current year.

“Committed fund balance” means a balance with internal constraints with specific limitations established by ordinance and remains binding unless removed in the same manner.

Cumulative Reserve Funds.*

(1) RCW 35.21.070: The town may establish a cumulative reserve fund for several different municipal purposes as well as for a very specific purpose. The monies in the fund may be allowed to accumulate from year to year until the legislative authority of the city or town shall determine to expend the monies in the fund for the purpose or purposes specified; provided, that any monies in the fund shall never be expended for any other purpose or purposes than those specified, without an approving vote by a two-thirds majority of the members of the legislative authority of the city or town.

(2) RCW 35.21.080: An item for said cumulative reserve fund may be included in the town’s annual budget or estimate of amounts required to meet public expense for the ensuing year and a tax levy made within the limits and as authorized by law for said item; and said item and levy may be repeated from year to year until, in the judgment of the legislative body of the town, the amount required for the specified purpose or purposes has been raised or accumulated. Any monies in said fund at the end of the fiscal year shall not lapse nor shall the same be a surplus available or which may be used for any other purpose or purposes than those specified, except as herein provided.

(3) RCW 35.33.151: All appropriations in a special fund authorized by ordinance or by state law to be used only for the purpose or purposes therein specified, including any cumulative reserve funds lawfully established in specific or general terms for any municipal purpose or purposes, or a contingency fund as authorized by RCW 35.33.145, shall not lapse, but shall be carried forward from year to year until fully expended or the purpose has been accomplished or abandoned, without necessity of reappropriation.

“Ending fund balance” means the excess of beginning fund balance plus current revenues minus current expenditures.

Operating Funds.

(1) RCW 35.33.151: All appropriations in any current operating fund shall lapse at the end of each fiscal year; provided, that this shall not prevent payments in the following year upon uncompleted programs or improvements in progress or on orders subsequently filled or claims subsequently billed for the purchase of material, equipment and supplies or for personal or contractual services not completed or furnished by the end of the fiscal year, all of which have been properly budgeted and contracted for prior to the close of such fiscal year but furnished and completed in due course thereafter.

“Restricted fund balance” means legally set aside for a specific purpose. (Ord. 653 § 1, 2021; Ord. 618 § 1 (Exh. A), 2019)

* Code reviser’s note: Ord. 653 included subsections (1) through (4) under the definition for cumulative reserve fund. Subsection (3) was duplicative in nature and removed, and the following subsection was renumbered.