(a) There is hereby created and established within the Treasury of the City of Los Angeles a special fund to be known as the Department of Neighborhood Empowerment Fund (the Department Fund) for the deposit and disbursement of funds appropriated to the Department of Neighborhood Empowerment (the Department) for the operations of the Department. The Department Fund shall be administered by the General Manager of the Department. All interest earnings accruing on money in the Department Fund shall be credited to the General Fund of the City. Money in the Department Fund shall not revert to the Reserve Fund of the City; provided, however, that City Council, subject to the approval of the Mayor, or over the Mayor's veto by a two-thirds vote, may transfer unencumbered money in the Department Fund to the Reserve Fund or the Unappropriated Balance.
(b) There is hereby created and established within the Treasury of the City of Los Angeles a special fund to be known as the Neighborhood Council Fund for the deposit and disbursement of funds appropriated to the City Clerk for the operations and expenses of Neighborhood Councils. The Neighborhood Council Fund shall be administered by the City Clerk. However, funds appropriated for the Budget Advocates and the Congress of Neighborhoods shall remain in the Department Fund. The City Clerk is authorized to promulgate all procedures, rules and regulations, as well as issue any directives necessary for the administration of the Neighborhood Council Fund. All interest earnings accruing on money in the Neighborhood Council Fund shall be credited to the General Fund of the City. Money in the Neighborhood Council Fund shall not revert to the Reserve Fund of the City; provided, however, that City Council, subject to the approval of the Mayor, or over the Mayor's veto by a two-thirds vote, may transfer unencumbered money in the Neighborhood Council Fund to the Reserve Fund or the Unappropriated Balance. For purposes of this subsection, money appropriated to Neighborhood Councils shall be deemed to be encumbered.
SECTION HISTORY
Chapter and Section Added by Ord. No. 173,184, Eff. 5-20-00.
Amended by: Subsec. (b), Ord. No. 180,623, Eff. 5-17-09; Title and Sec., Ord. No. 184,835, Eff. 5-1-17.