(A) All funds deposited in the Foreign Fire Insurance Fund shall be held, managed and expended only for the maintenance, use and benefit of the Fire Division of the City. On or about April 1 of each year, commencing in 1990, the Board of Trustees shall adopt an annual budget of receipts and expenditures containing at least the following categories:
RECEIPTS
Foreign Fire Insurance Tax
Interest
Vending Machine Receipts
Carryover of Reserves
DISBURSEMENTS
Safety Turnout Gear/Replacement and
Maintenance
Living Quarters Improvements
Educational/Training Materials
Research and Development of Gear and Equipment
Reserves for Future Purchasers
Miscellaneous Items for the
Maintenance, Use and Benefit of
the Fire Division
(B) The annual budget so adopted shall be submitted for approval to the City Council, which shall consider and approve the same concurrently with the annual budget process of the City. The Board of Trustees and the Fund shall have the same fiscal year as the City.
(Ord. 7443, passed 3-6-90; Am. Ord. 8931, passed 4-1-14)