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M.V. ORDINANCE NO. 91- 36. <br />Page 4 <br />assets related to specific funds and those of general <br />government and between long-term obligations related to <br />specific funds and those of general government. <br />B. General Fixed Asset Group are for property, plant and <br />equipment acquired by governmental and similar <br />fiduciary fund types and are accounted for in the <br />General Fixed Assets Account Group. <br />C. Fixed assets related to specific proprietary funds or <br />trust funds should be accounted for through those <br />funds. All other fixed assets of a governmental unit <br />should be accounted for through the General Fixed <br />Assets Account Group. <br />D. General Long-Term Obligations Account Group are for <br />unmatured long-term obligations backed by the "full <br />faith and credit" of the municipality and are <br />obligations of the municipality as a whole and not of <br />any individual fund. These obligations are accounted <br />for under the General Long-Term Obligations Account <br />Group. Long-Term obligations of proprietary funds, <br />special assessment funds and trust funds should be <br />accounted for through those funds. All other unmatured <br />general long-term liabilities of the Village should be <br />accounted for through the General Long-Term Debt <br />Account Group. <br />SECTIOPT S. When a fund is established where special <br />assessment tax levies will be assessed on certain real properties <br />it will be classified as or reclassified as: <br />A. A special Revenue Fund Type when the given tax levy is <br />for maintenance of specific current operating <br />activities. <br />B. A Debt Service Fund Type when the given tax levy is for <br />retirement of special assessment long term debt. <br />C. A Capital Projects Fund Type when financing a public <br />improvement against which special assessment tax will <br />be levied. <br />SECTION 6. All prior Ordinances inconsistent with this <br />Ordinance in whole or in part are hereby repealed to the extent <br />necessary to avoid conflict with this Ordinance.