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There is hereby created within the Department of General Services a fund known as the “Stores Revolving Fund” hereinafter referred to in this chapter as the “Fund”.
(a) Said Fund may be used for the purpose of financing the cost of materials, supplies, equipment, salaries and wages, and necessary expenses in connection with the carrying on of the activities and duties of the Stores Division.
(b) Existing surpluses and encumbrances remaining within the Fund in the amount of $4.29 million in Fiscal Year 2017-18 revenue will be released to the City Controller. The Controller is authorized to transfer $4.29 million to the General Fund as 2017-18 revenue. This provision shall sunset at the conclusion of the Fiscal Year 2017-18.
SECTION HISTORY
Based on Ord. No. 52,230.
Amended by: Ord. No. 98,750; Ord. No. 152,427, Eff. 6-29-79; In Entirety, Ord. No. 184,435, Eff. 9-21-16; In Entirety, Ord. No. 185,129, Eff. 10-3-17.
The Controller may from time to time, upon receipt of proper notice of indebtedness furnished by the Purchasing Agent, charge the various funds or accounts in the City Treasury for services rendered or materials and supplies delivered and credit the Fund in the amount of such charges.
SECTION HISTORY
Based on Ord. No. 52,230.
Amended by: Ord. No. 130,142.
The Purchasing Agent may from time to time, draw demands against the Fund and all demands drawn against the said Fund shall be certified and approved by the Controller as in the case of other demands upon the City Treasury.
SECTION HISTORY
Based on Ord. No. 52,230.
Amended by: Ord No. 98,750.
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