§ 111.155. Sports and Entertainment Trust Fund.

There is created an account to be known as the Sports and Entertainment Trust Fund, into which shall be deposited funds appropriated from time to time by Council and all event-related monies including, but not limited to, ticket sales, donations, gifts, sponsorship underwriting fees, advertising charges and commissions, and event participation fees which are sold by the Office of Sports and Entertainment or given to the Office of Sports and Entertainment from nongovernmental sources, together with interest thereon. These funds are designated to pay commissioned advertising expenses and to assist in subsidizing events and in defraying the direct costs and expenses associated with events that are sponsored or co-sponsored by the Office of Sports and Entertainment, as such events are determined by the Office of Sports and Entertainment. The Sports and Entertainment Officer, and the Director of Finance and Administration shall make disbursements from this fund upon the written requisition of the Sports and Entertainment Officer, and the Director of Finance and Administration shall make disbursements from this fund upon the written requisition of the Chief Administrative Officer. The Sports and Entertainment Officer shall ensure payment for all direct expenses and operating expenses for any Sports and Entertainment Officer requested use of the Facility Venues. Any use of the Facility Venues shall require prior to the event either i) City Council approval or ii) certification from the Facilities Manager, which shall not be unreasonably withheld, that no direct expenses are being added to the approved budget and being charged as an operating expense. The Sports and Entertainment Officer shall approve, after consultation with the facilities manager when appropriate regarding the availability of the venue, all fixed dollar amount promotional and/or sponsorship contracts and agreements with promoters, co-sponsors and other public or private parties or entities, and the Chief Administrative Officer is authorized to negotiate and execute such fixed dollar amount promotional and/or sponsorship contracts and agreements, provided, however, that the Financial Service Officer (a/k/a the Chief Financial Officer) shall certify on such contracts or agreements that there are current funds available (i.e. funds are on account at the time of contract execution) in this trust fund to fund the particular event in question, and provided further that an assistant general counsel in the Office of General Counsel shall approve such contracts and agreements as to form. All event-related monies and interest placed into this trust fund are hereby appropriated for the purposes of this trust fund and all appropriations (event-related monies and City-provided funding) shall not lapse at the close of any fiscal year, but instead shall carry over to the next fiscal year.

The Sports and Entertainment Officer, no later than 60 days after the last day of a sports event where Trust Fund money was used, shall deliver to the Financial Services Officer (a/k/a the Chief Financial Officer), Council Members and the Council Auditor a complete accounting of revenues by source and expenditures by category and source including but not limited to General Fund, Trust Fund and any other funds, on a form agreed to by the Sports and Entertainment Officer, the Financial Services Officer/CFO and the Council Auditor.

(Ord. 96-893-516, § 1; Ord. 2006-422-E, § 87; Ord. 2011-732-E, § 33; Ord. 2013-485-E, § 1; Ord. 2014-289-E, § 2; Ord. 2016-140-E , § 16)

Editor's note— Ordinance 2007-839-E, § 18, authorized updated department/division names pursuant to reorganization.

Note— Former § 110.385.