The following fund categories are hereby established to assist with the financial management of special funds or accounts. Unless otherwise stated in this Chapter or required by law, such funds are to be administered as specified below.
Fund Category
Automatic Appropriation
Accumulation of Interest
Fund Balance Carries Forward
One
No
No
No
Two
No
No
Yes
Three
No
Yes
No
Four
No
Yes
Yes
Five
Yes
No
No
Six
Yes
No
Yes
Seven
Yes
Yes
No
Eight
Yes
Yes
Yes
(a) Automatic Appropriation. Funds deposited into fund categories five, six, seven, and eight are hereby appropriated far expenditures consistent with the purpose and use of the fund, with such expenditures to be authorized by the director of the recipient department.
(b) Interest Earning. Any interest earned on the principal in fund categories three, four, seven, and eight shall be credited to the fund, provided that the balance in said fund exceeds $50,000.
(c) Carry Forward of Fund Balance. Any unexpended and unencumbered balance remaining at the close of any fiscal year in fund categories two, four, six, and eight shall be deemed to have been provided for a specific purpose within the meaning of Section 6.306 of the Charter and shall be accumulated in the fund.
(d) Automatic Closure of Funds. If no expenditures are made from any special fund or account for two fiscal years, the Controller may close said special fund or account and return any balance remaining in the fund to the General Fund.
(Added by Ord. 316-00, File No. 001911, App. 12/28/2000)
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