48-4885. Accounting classifications; bond fund; general fund A. The secretary-treasurer of the district shall establish appropriate accounting classifications and designations in the district accounting records to provide for accurate and systematic control and allotment of all monies received. B. The secretary-treasurer shall maintain a bond fund and a general fund of the district and shall apportion all monies received into the fund corresponding with the purpose for which the monies were received. The secretary-treasurer may invest inactive monies from either the general fund or the bond fund and shall credit income earned on the investments to the respective fund.
Arizona Legal Code