(A) Purpose and intent. The purpose of this section is to establish a Parks Restricted Fund for the exclusive use of revenue generated from parks and parking facilities within the jurisdiction of the city. The creation of this fund will ensure that all revenue derived from park and parking operations will be restricted and dedicated solely to parks and recreational activities, development, and projects within the community.
(B) Creation of the Parks Restricted Fund.
(1) Establishment of the fund. The Parks Restricted Fund (hereinafter referred to as the “fund”) is hereby established as a separate and restricted fund within the municipal budget of the city.
(2) Parks special revenue. The fund shall receive revenue granted from the following sources:
(a) Park admission fees;
(b) Parking fees and fines within parks and parking facilities;
(c) Donations and grants specifically designated for park and recreational purposes; and
(d) Any other revenue generated directly from parks and parking operations within the jurisdiction or under this chapter.
(C) Restricted uses.
(1) Restricted expenses. The revenue held within the Parks Restricted Fund shall be used exclusively for the following purposes:
(a) Development and maintenance of parks and recreational facilities;
(b) Implementation of park improvement projects;
(c) Funding of recreational and community programs and activities;
(d) Acquiring additional parkland or open space for public use; and
(e) Any other expenses directly related to the enhancement and maintenance of parks and recreational activities within the community.
(2) Prohibited uses. The funds within the Parks Restricted Fund shall not be utilized for any purpose other than those outlined in division (A) above. These funds shall not be diverted or used for general government expenses, operational costs unrelated to parks and recreation, or any other non-recreational purposes.
(D) Administration and oversight.
(1) Fund management. The Finance Director shall be responsible for the administration and management of the Parks Restricted Fund.
(2) Reporting and accountability. Annual reports detailing the revenues collected, expenditures made, and the status of the fund shall be provided to the City Council, and made available to the public to ensure transparency and accountability.
(Ord. 2023-09-21-02, passed 9-21-2023)