Los Angeles Municipal Code Art. 2 Stores Revolving Fund

Section

• 5.142 Creation of Stores Revolving Fund.

• 5.143 Charges for Services Rendered.

• 5.144 Demands Against the Fund.

There is hereby created within the Department of General Services a fund known as the “Stores Revolving Fund” hereinafter referred to in this chapter as the “Fund”.

(a) Said Fund may be used for the purpose of financing the cost of materials, supplies, equipment, salaries and wages, and necessary expenses in connection with the carrying on of the activities and duties of the Stores Division.

(b) Existing surpluses and encumbrances in the amount of $1,719,000 from Fiscal Year 2019-20 and Fiscal Year 2021-22 in the Fund shall be released to the City Controller. The City Controller is authorized to transfer $1,719,000 to the General Fund as Fiscal Year 2025-26 revenue. This provision shall sunset on June 30, 2026.

SECTION HISTORY

Based on Ord. No. 52,230.

Amended by: Ord. No. 98,750; Ord. No. 152,427, Eff. 6-29-79; In Entirety, Ord. No. 184,435, Eff. 9-21-16; In Entirety, Ord. No. 185,129, Eff. 10-3-17; Subsec. (b), Ord. No. 188,710, Eff. 9-27-25.

The Controller may from time to time, upon receipt of proper notice of indebtedness furnished by the Purchasing Agent, charge the various funds or accounts in the City Treasury for services rendered or materials and supplies delivered and credit the Fund in the amount of such charges.

SECTION HISTORY

Based on Ord. No. 52,230.

Amended by: Ord. No. 130,142.

The Purchasing Agent may from time to time, draw demands against the Fund and all demands drawn against the said Fund shall be certified and approved by the Controller as in the case of other demands upon the City Treasury.

SECTION HISTORY

Based on Ord. No. 52,230.

Amended by: Ord No. 98,750.