There is hereby established within the Treasury of the City of Los Angeles a fund entitled “The General Services Department Trust Fund” hereinafter in this article referred to as the “Fund.”
(a) The Fund shall be used for the purpose of:
(1) receipt, retention and disbursement of lease deposits, rental deposits, permit deposits, oil royalty deposits, and any other moneys accepted from persons or entities other than the City by the Department of General Services to assure some future action, and
(2) for the acceptance and retention of funds by the Department pending their disbursement in part or in full where intended at least in part for a beneficiary other than the City or where funds are deposited temporarily pending resolution of the intent or purposes of a payment.
(b) The Controller, at the request of the General Manager of the Department of General Services, may designate accounts to be established within the Fund for the classification of various types of receipt or disbursement.
(c) The Fund shall be administered by, and shall be under the jurisdiction and control of the Department of General Services. Expenditures shall be authorized by, the General Manager of the Department or the designee of the General Manager in accordance with established City practice. No expenditures shall be made from such Fund for purposes which are contrary to the budgetary policy for the Department as established by the Mayor and the City Council.
SECTION HISTORY
Article 4.5 and Sec. 22.505, added by Ord. No. 158,881, Eff. 6-7-84.