(a) Establishment. There is hereby established a special, separate and permanent fund which shall be known and referred to as the Hospital Fund. The Director of Finance is authorized and directed forthwith to take such action and make such records as may be necessary to establish the Hospital Fund and thereafter to show its existence and condition at all times upon the proper records of the City. (Ord. 3948. Passed 1-6-1941.)
(b) Revenues to Fund. There shall be paid directly into the Hospital Fund, when and as received, all income of Lakewood Hospital from its operation, except such income as shall be required to be paid directly into the Hospital Capital Outlay and Depreciation Fund or other special fund pursuant to ordinance adopted by Council; the proceeds of any special tax which may be levied for hospital purposes (other than for principal and interest on hospital bonds); all unconditional gifts or bequests of moneys received for the purpose of aiding the operation of the hospital; all other gifts, bequests, devises, trusts or the income therefrom, as the case may be, in accordance with and subject to the provisions or conditions of any such gift, bequest, devise or trust; all moneys from the General Fund appropriated by Council for the operating expenses of the hospital, and any money that may be transferred in any manner to the Hospital Fund from any other fund by Council or by order of court. All income from Hospital operations and all other moneys hereinabove ordered paid directly into the Hospital Fund are hereby appropriated to the Hospital Fund and to the payment of the cost of Hospital operation, including interest on the Hospital bonds described in Section 129.15(d).
(Ord. 36-54. Passed 7-19-1954.)
(c) Direction of Fund. The Hospital Fund shall be under the direction and control of the Hospital Board of Trustees, which shall have power to appropriate and expend it as they shall deem for the best interests of the Hospital. In appropriating and expending such Fund, the Board of Trustees shall give precedence over other items of expenses to the salaries and wages of hospital employees.
(d) Supervision of Accounts. The Director of Finance shall have the possession and custody of the Hospital Fund and the supervision of all accounts with respect thereto. Nothing in this section shall be construed as withdrawing such Fund or any part thereof from the protection of any bond given or that may be given by the Director. No further bond shall be required because of such Fund. No additional salary shall be paid the Director by reason of services to or in connection with such Fund.
(e) Annual Estimates of Income and Expense. On or as soon after July 15 as is possible in each year, or upon request by Council, the Hospital Board of Trustees shall transmit to Council for inclusion in the budget the amount of income expected from hospital operations during the next year, the amount expected to be required to operate the hospital, the amount of the appropriation from the General Fund expected to be required and such other information as may be requested by Council or provided by statute or ordinance.
(f) Annual Request for Appropriation. On or as soon after November 15 of each year as may be possible, the Hospital Board of Trustees shall prepare and submit to Council its request for an appropriation from the General Fund, together with such information pertaining thereto as may be required by the Charter, by statute or ordinance, or requested by Council.
(Ord. 3948. Passed 1-6-1941.)