(a) There is hereby created and established in the Treasury of the City of Los Angeles a special trust fund to be known as the “Volunteer Trust Fund,” hereinafter referred to in this chapter as the “Fund.”
(b) The purpose of the Fund shall be to support City staffing costs and related expenses, projects and activities of the City Volunteer Program, subject to any special terms or conditions attached to individual gifts, contributions or bequests to the City.
(c) The Fund shall be administered by the City Clerk and expenditures therefrom shall be authorized by the Mayor or the Mayor’s designee.
(d) All monetary gifts, contributions or bequests to the City for the purposes set forth in this chapter which exceed the sum of $5,000 shall be submitted to the City Council for acceptance or rejection. All such monetary gifts, contributions or bequests which do not exceed the sum of $5,000 shall be submitted to the City Volunteer Director, hereinafter referred to in this chapter as the “Director,” or, if the Director is unavailable, to a designee of the Mayor for acceptance or rejection.
(e) All monetary gifts, contributions or bequests accepted by the City Council or by the Director and all money appropriated by the City Council or received from any other source for the purposes set forth in this chapter shall be placed in the Fund.
(f) The City Clerk shall inform the Controller of any special terms or conditions placed upon the use of all moneys accepted for deposit in the Fund. The Controller shall establish a separate account within the Fund for each specific use for all accepted monetary gifts, contributions or bequests which contain any special term or condition. No money shall be expended from the Fund except in
compliance with each special term or condition under which such money was accepted. Any request for an expenditure of money from any such separate account shall be accompanied by sufficient information for the Controller to determine that the proposed expenditure does not contravene the specific use for which such separate account was established.
(g) All monetary gifts, contributions or bequests which are accepted without special terms or conditions upon their use shall be placed in a general account established in the Fund by the Controller.
(h) All interest or other earnings attributable to money in the Fund shall be credited to the Fund and shall be devoted to the purposes set forth in this chapter.
(i) The City Clerk shall report to the City Council by identifying all receipts into the Fund, including their sources, and all expenditures out of the Fund, as well as the purposes for which the expenditures were made. Each report shall cover a fiscal year and shall be submitted within 60 days after the close of such fiscal year.
SECTION HISTORY
Chapter and Section Added by Ord. No. 170,586, Eff. 8-7-95.
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