(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 “El Pueblo Cultural Improvement Trust Fund”, hereinafter referred to as the “Fund”.
(b) The monies in the Fund shall be used for the purchase of equipment and furnishings in support of ongoing culturally enriching programs of the El Pueblo de Los Angeles Historical Monument.
(c) An additional purpose of the Fund shall be for the receipt, retention and disbursement of gifts, contributions, bequests and grants. All offers of gifts, contributions, bequests and grants to the City for the purposes set forth in this chapter which exceed the sum of $5,000 in value shall be submitted to the City Council for acceptance or rejection. All offers of gifts, contributions, bequests and grants to the City for said purposes which do not exceed the sum of $5,000 in value shall be submitted to the General Manager of the El Pueblo de Los Angeles Historical Monument Authority Department, hereinafter referred to as the “General Manager”, or the General Manager’s designee, for acceptance or rejection.
(d) The El Pueblo de Los Angeles Historical Monument Authority Department shall inform the Controller of any special terms or conditions placed upon the use of all monies accepted for deposit in the Fund. The Controller shall establish a separate account in the Fund for each specific use for all accepted monetary gifts, contributions, bequests or grants 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 would not contravene the specific use for which such separate account was established.
(e) All monetary gifts, contributions, bequests or grants 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.
(f) During the first year following the effective date of this Ordinance, the Fund shall be administered by the Office of the Chief Legislative Analyst, and expenditures from the Fund shall be authorized by the Office of the Chief Legislative Analyst in accordance with established City practices. After completion of the first year following the effective date of this Ordinance, the Fund shall be administered by the General Manager, and expenditures from the Fund shall be authorized by the General Manager in accordance with established City practices. No expenditures shall be made for purposes which are contrary to the budgetary policy of the City.
(g) All interest or other earnings attributable to monies in the Fund shall be credited to the Fund. Monies not expended from the Fund in any fiscal year shall not revert to the Reserve Fund, but shall remain in the Fund.
(h) During the first year following the effective date of this Ordinance, the Office of the Chief Legislative Analyst shall report semi-annually to the City Council, on April 1 and October 1, regarding and identifying all receipts into the Fund and the sources of said receipts, and all expenditures out of the Fund, and the purposes for such expenditures. After completion of the first year following the effective date of this Ordinance, the General Manager shall report semi-annually to the City Council, on April 1 and October 1, regarding and identifying all receipts into the Fund and the sources of said receipts, and all expenditures out of the Fund, and the purposes for such expenditures.
SECTION HISTORY
Chapter and Section Added by Ord. No. 173,564, Eff. 11-23-00.