(A) The intent of this legislation is that any revenue received in any given fiscal year from the Public Safety and Community Policing Quarter Percent Tax shall be expended only for the purposes contained in the Expenditure Plan for the Public Safety and Community Policing Tax and in the amounts specified in the Expenditure Plan.
(B) In order to insure that the Expenditure Plan is implemented as legislated by the City Council, there shall be created a Designated Fund Balance in the General Fund which shall account for, reserve, and designate, any revenues received and specified by purpose in the Expenditure Plan in excess of planned appropriations for every fiscal year.
(C) The table of Designated Percentages for Public Safety/Community Policing Quarter Percent Tax Revenues, attached to Resolution No. 124-1995, shall be used for this purpose. This table contains the percentages representing the planned expenditures by purpose in the Expenditure Plan. As specified in Bill No. 0-111, Enactment No. 43-1995, the expenditures for Year 3 are recurring and the percentages specified for Year 3 in the accompanying table shall be used for all subsequent years of tax revenue.
(D) Actual total revenue received each year from the Public Safety and Community Policing Tax shall be allocated to the spending purposes contained in the table according to the percentages contained in the table. If expended and encumbered funds for each purpose are less than the dollar amount allocated for that purpose, the remaining funds shall be accounted for in a Designated Fund Balance in the General Fund. These designated funds may only be expended subsequently for the purposes specified in Bill No. 0-111, Enactment No. 43-1995. However, if actual revenues received from the Public Safety and Community Policing Tax by purpose are less than the programmed expenditures contained in the Expenditure Plan by purpose, the spending requirement only extends up to the amount actually received for the given year, except as funds are available in the Designated Fund Balance.
(E) This accounting shall take place after the general ledger accounts are closed for a given fiscal year. A detailed accounting schedule of the Designated Fund Balance by purpose shall be included in the annual operating budget document and the Comprehensive Annual Financial Report.
(Res. 124-1995, approved 10-5-95)