(A) General Care Fund. The General Care Fund shall be comprised of 87.5% of all money received from the sale of lots and interments plus all donations specifically designated to this fund by the donor. If no such designation is made by the donor, a gift in an amount to be set by the City Council from time to time or less shall be deposited in the General Care Fund. Sums of more than an amount to be set by the City Council from time to time, but less than another amount to be set by the City Council from time to time, may be placed in the General Care Fund if necessary for cemetery operating expenses. Both the principal and interest generated by the General Care Fund shall be utilized for the day-to-day operations and maintenance of cemeteries owned by the city. The City Council shall administer the General Care Fund with due consideration to the recommendations presented by the Association.
(Prior Code, § 94.029)
(B) Permanent Care Fund. The Permanent Care Fund shall be a separate account comprised of 12.5% of all money received from the sale of lots and interments plus all un-designated donations that are not deposited with the General Care Fund pursuant to division (A) above. The fund principal shall be used to purchase additional cemetery land and to make capital improvements in the cemetery. The balance of the fund may be invested in the manner provided by law for the investment of municipal funds. Interest from the investments shall be used for the same purpose as the principal or to construct lots, walks, drives, or parks, or to purchase necessary cemetery equipment. The fund shall be administered by the City Council with due consideration to the recommendations of the Association.
(Prior Code, § 94.030)
(C) Deposit and accounting. It is the duty of the Superintendent, or other city officials as designated by the City Council, to account for all money received from the sale of lots or from interments, or from any other source, and to deposit such funds with the city in the appropriate accounts as outlined in this subchapter. The city shall make provision and separate accounting in its yearly budget for operation and maintenance of the cemetery.
(Prior Code, § 94.031)
(Ord. 94-437, passed 5-17-1994)
Statutory reference:
Cemetery Care Fund, see 11 O.S. § 26-109