(a) All revenues derived from the operation of the Department or activities at the Zoo, including the proceeds from any rental or lease thereof, all other revenues or monies received by the Department, and all appropriations made to the Department shall be deposited into a special interest earning trust fund to be designated as the “Zoo Enterprise Trust Fund” which fund is hereby established within the Treasury of the City of Los Angeles. Said fund is hereinafter referred to in this Chapter as the “Fund”. All interest and earnings which accrue from the investment of monies in the Fund shall accrue and be deposited to the credit of the Fund. All costs and expenses incurred in the operation, management, maintenance and control of the Department or related thereto, shall be paid solely from the Fund. The monies deposited in the Fund shall be expended solely for the purpose set forth herein and shall not revert to the General Fund.
(b) All offers of monetary gifts, contributions, or bequests accepted by the City Council or the General Manager for any of the purposes discussed above shall be placed in the Fund.
(c) All offers of gifts, contributions, or bequests made directly to the City for the Zoo with a value of more than $10,000 shall be submitted to the City Council for acceptance or rejection. All offers of gifts, contributions, or bequests of personal property which have a value of $10,000 or less may be accepted by the General Manager of the Department.
(d) The Controller, at the request of the Department, shall establish a separate account for each accepted monetary gift, contribution or bequest which includes any special requirements, qualifications or conditions for use. All accepted monetary gifts, contributions, or bequests which do not include special requirements, qualifications or conditions for use shall be placed in the general account of the Fund.
(e) The Fund shall be administered and expenditures shall be authorized by the General Manager or the General Manager’s designee in accordance with established City practice. The General Manager shall not utilize the fund for purposes which are contrary to the budgetary policy of the Department as established by the Mayor and Council.
(f) The General Manager shall report to the Council semiannually, commencing on October 1 with respect to all receipts placed in the Fund, the source thereof and all expenditures from the Fund and the purposes thereof.
SECTION HISTORY
Article and Section Added by Ord. No. 171,636, Eff. 7-27-97.