(A) A municipal liquor store fund is hereby created in which all revenues received from the operation of the store shall be deposited and from which all ordinary operating expenses shall be paid. Any amounts it may be necessary to borrow from the general fund of the city for initial costs of rent, fixtures and stock or for operating expenses shall be reimbursed to that fund out of the first available moneys coming into the liquor store fund thereafter. Surpluses accumulating in the liquor store fund may be transferred to the general fund or to any other appropriate fund of the city by resolution of the Council and expended for any municipal purpose.
(B) The handling of municipal liquor store receipts and disbursements shall comply with the procedure prescribed by law for the receipts and disbursements of city funds generally.
(C) The Council shall provide as soon as possible following the close of each fiscal year for an audit of the accounts of the municipal liquor store for that fiscal year by the state auditor or a qualified public accountant.
(‘81 Code, § 3-25) (Ord. 76, passed 5-27-70)
Statutory reference:
For provisions concerning the supervision of accounts by state auditor, see M.S. § 6.50