(A) A Municipal Liquor Dispensary Fund is hereby created in which all revenues received from the operation of the dispensary 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 Dispensary Fund thereafter. Surpluses accumulating in the Dispensary 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 dispensary 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 dispensary for that fiscal year by the Public Examiner or a public accountant.
(Ord. 67, passed 6-7-1967)