RESPONSIBLE CITY AGENCY: Finance Division

KEYWORDS:         Special Revenue Donation Funds, monitor, establish, checklist

Responsibility      /Action

1.    Requesting  

       Department         Complete the “Special Revenue Donation Fund Agreement” form.  (See agreement form below) 

                                        Submit donation agreement form to Finance Division for final approval.

2.    Finance              

       Division               Approve or deny the creation of the Special Revenue Donation Fund, ensuring that it is established for a proper public purpose.

                                        Create the Special Revenue Donation Fund in the financial system.

                                        Ensure that budget controls are in place for each fund at all times.

                                        Notify requesting department of Special Revenue Donation Fund account number. (Cost Center number)

                                        Maintain a file containing all Special Revenue Donation Fund agreement documents.

                                        Establish Special Revenue Donation Fund interest calculation.

3.    Requesting  

       Department Review Special Revenue Donation Funds annually and notify the Finance Division of any fund which is expended or inactive and can be closed.

4.    Finance              

       Division                   When required, close any Special Revenue Donation Fund which is expended or inactive and apply any excess funds as directed by the Special Revenue Donation Fund agreement or apply to the General Fund as stated in the Special Revenue Donation Fund Policy.

REFERENCES:     City Policy 2.01.07 – Special Revenue Donation Funds

                                        Special Revenue Donation Fund Agreement Form

                                        Special Revenue Donation Fund Expenditure and Collection Checklist

EFFECTIVE DATE:        January 1, 2006