Title 07 Finance

Chapter 07.08 Funds

Article V. Enterprise Funds

1. There is established a fund designated as the “golf fund” into which funds derived from golf revenues, including but not limited to fees, commissions, rentals and any other funds as may properly become available for golf purposes, shall be deposited, except admission taxes derived from golf operations shall be deposited into the general fund.
    
2. The golf fund shall be used exclusively for golf purposes. Expenditure of funds received shall be disbursed only upon regular budget authorization and upon the order and approval of the park board.
    
3. Funds may be accumulated in the golf fund as reasonable reserves for improvements at the discretion of the park board and subject to expenditure under regularly adopted budget authorization.

Date Passed: Monday, May 7, 2007

Effective Date: Wednesday, June 20, 2007

Recodification ORD C34024 Section 1