(A) There is hereby established a Parking Enterprise Fund (the "Fund"). The purpose of the Fund is to create a self-supporting parking enterprise system, allowing for the separate accounting for the operation of municipal parking facilities throughout the city. Segregation of municipal parking activities provide a mechanism to separately plan, budget, track and record current and future parking activities for parking operations and improvement projects that will be in progress throughout the city, or that are intended to be financed through current revenues for future years.
(B) Effective October 1, 2013, it is hereby authorized that all parking related revenues collected and related expenditures incurred be accounted for in the Fund.
(C) All receipts generated from the operation of parking facilities within the city (including, but not limited to, parking meters on street and off street, parking garages, boat trailer parking, citations and leases of any parking facilities) shall be deposited into the Fund.
(D) Amounts in the Fund may be expended for any budgeted parking operations or capital improvement project approved by the City Commission. Additional uses of net revenues from the Fund may be authorized by the approval of the City Commission.
(E) The city's General Fund may assess administrative charges to the Fund in order to recover indirect costs associated with support services anticipated to be provided to the Fund to include, but not be limited to, accounting, treasury, budget, human resources, internal audit, City Attorney, City Clerk, public works (as applicable). Such administrative charges may be structured as a component of each annual budget for the Fund, subject to approval by the City Commission.
(F) The Finance Director shall invest any surplus funds in the Fund in the same manner as other surplus funds of the city. All income accruing from investment of such funds shall be deposited to the Fund.
(Ord. 2013-65, passed 6-11-13)