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(a) Establishment of Fund. The San Francisco City College Financial Assistance Fund (“the Fund”) is hereby established as a category four fund, except as provided in subsection (d), to provide financial assistance to the City College of San Francisco (“City College”) to support students at City College.
(b) Sources of Funds. The Fund may receive any legally available monies appropriated for this purpose. It is the intent of the Board of Supervisors to appropriate monies annually to the Fund, consistent with the terms of the Memorandum of Understanding between the City and City College authorized by resolution in Board File No. 190735, as it may be amended by the City and City College from time to time (the “Free City College MOU”).
(c) Use of Funds. The Department of Children, Youth, and Their Families (“the Department”) shall use monies in the Fund as set forth in the Free City College MOU to make grants to City College for enrollment fees and other education-related financial support for students who are enrolled in credit courses at City College, and for City College’s related costs.
(d) Reserve. Within the Fund, the Controller shall maintain a segregated reserve fund (the “Reserve”). In Fiscal Years 2019-20, 2020-21, 2021-22, and 2022-23, any monies appropriated to the Fund in the fiscal year that remain unspent at the end of the fiscal year shall be placed in the Reserve. In Fiscal Years 2023-24, 2024-25, 2025-26, 2026-27, 2027-28, and 2028-29, 50% of any monies appropriated to the Fund in the fiscal year that remain unspent at the end of the fiscal year shall be placed in the Reserve. Monies in the Reserve may be used for the purposes set forth in subsection (c).
(e) Administration and Oversight of Fund. The Department shall administer the Fund consistent with the Free City College MOU. The Free City College Oversight Committee established in Article II of Chapter 5 of the Administrative Code shall provide advice to the Department regarding the implementation of the Free City College MOU and disbursements from the Fund.
As required by the Free City College MOU, and to the extent consistent with the civil service provisions of the Charter, the Controller shall select an independent auditor to audit City College’s use of monies disbursed from the Fund and shall prepare an audit report each fiscal year. The Controller shall deliver each annual audit report to the Board of Supervisors, the Mayor, and the Oversight Committee.
(f) Transfer of Previously Appropriated Monies. The Controller is authorized to transfer into the Fund any appropriations approved prior to the effective date of the ordinance in Board File No. 190730 for the purposes established in this Section 10.100-288, including monies appropriated for the City College Reserve.