Ohio Code 5705.09 – Establishment of funds
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Each subdivision shall establish the following funds:
Terms Used In Ohio Code 5705.09
- Bond: includes an undertaking. See Ohio Code 1.02
- Property: means real and personal property. See Ohio Code 1.59
- Subdivision: means any county; municipal corporation; township; township police district; joint police district; township fire district; joint fire district; joint ambulance district; joint emergency medical services district; fire and ambulance district; joint recreation district; township waste disposal district; township road district; community college district; technical college district; detention facility district; a district organized under section 2151. See Ohio Code 5705.01
(A) General fund;
(B) Sinking fund whenever the subdivision has outstanding bonds other than serial bonds;
(C) Bond retirement fund, for the retirement of serial bonds, notes, or certificates of indebtedness;
(D) A special fund for each special levy;
(E) A special bond fund for each bond issue;
(F) A special fund for each class of revenues derived from a source other than the general property tax, which the law requires to be used for a particular purpose;
(G) A special fund for each public utility operated by a subdivision;
(H) A trust fund for any amount received by a subdivision in trust.