§ 118.609. Restrictions for use of cultural service grants.

(a)

Each recipient of appropriations made pursuant to Chapter 118 is responsible for ensuring that City funds are expended pursuant to Section 118.301.

(b)

Cultural service grant funds must be kept in an individual bank account, notwithstanding the provision to the contrary in Section 118.201, separate from other organization funds. It may be an interest bearing account, but the total amount of the grant and the interest must be spent by the end of the contract period; except that a remaining balance may be maintained in the cultural service grant account, notwithstanding the provision to the contrary in Section 118.301(a)(5). This balance must be identified and documented in quarterly and year end reports and shall not exceed $500. This balance shall be returned to the City within the first 90 days of the first fiscal year in which the recipient no longer receives a Cultural Service Grant appropriation. The portion of unspent funds that exceed $500 shall follow the provisions of Section 118.301(a)(5).

(Ord. 2009-868-E, § 2)