The funds collected under the provision of this Chapter shall be deposited as follows:
(A) Such part thereof as shall be considered necessary in the opinion of the City Auditor to defray the cost of collecting the City income tax and the costs of administering and enforcing the provisions of this chapter shall be first deposited in the City Income Tax Department Fund.
(B) Thirty-three and one-third percent (33 1/3%) of the remainder shall be allocated to the expenses of the Police Department as provided in the tax levied pursuant to Section 193.012(C) of the Codified Ordinances and deposited directly into the General Fund (Safety) accounts.
(C) The balance of income tax revenue collected shall be deposited directly into the following funds:
(1) Fifty-five percent (55%) to the General Fund.
(2) Thirty-five percent (35%) to the Street Construction and Maintenance Fund.
(3) Ten percent (10%) to the Capital Improvements Fund.
(Ord. 15-45. Passed 11-19-15.)