§ 2-10. Financial accounting by outside agencies.

(a)

All requests for funds or appropriations from the city or any city departments during the formulation of its annual budget, by any organization, authority, corporation or any other agency, public or private, nonprofit or otherwise, not under the direct authority of the city administration or any of its departments, must be accompanied by a detailed annual report or financial accounting describing the actual expenditures of such organization.

(b)

All requests subject to the above paragraph must also submit, along with its annual report, a comprehensive prospectus outlining the purpose for such requests, an explanation of the purpose of the agency or organization for expending such funds and a detailed proposed budget for the fiscal year for which funds are requested.

(c)

Such reports and prospectuses must include total budget and prospectus information, than that related to city-provided funds.

(d)

The above required information must be presented to the director of finance or the appropriate department head by the date determined by the director of finance. The finance director, in turn, shall incorporate all such information with request for inclusion in the annual budget workbook.

(e)

No funds may be appropriated to any above defined organization that has not complied with the articles of this section.

(f)

In the event of disagreement as to the extent of compliance with the terms and purpose of this section, requests shall be accepted or rejected by a majority vote of the board of aldermen.

(Ord. No. 659, 10-14-93)

Editor's note

Ordinance No. 659, adopted October 15, 1993, did not specifically amend this Code; hence, inclusion as § 2-10 was at the discretion of the editor.