All moneys which are received and disbursed by the Recreation Board shall be placed in the Recreational Activity Fund which shall be segregated from all other funds belonging to the City. The funds so received from the Board shall consist of all moneys received from miscellaneous activities conducted under the supervision of the Board, including softball, basketball, volleyball and other similar recreational projects. All funds so received shall be accounted for in a manner to be prescribed by the City Auditor, and the management of such funds shall be under his supervision and control.
(1956 Code Sec. 151.07)