Explanation
Background: This ordinance is to authorize the City Auditor, on behalf of the Recreation and Parks Department, to create a new subfund within the City’s Special Purpose Fund to account for funds received for City golf course pro shop retail sales. The City manages retail inventory and sales of golf tees, golf balls, golf bags, apparel, and other like items to customers at City golf courses. Revenue received from golf pro shop retail sales will be deposited into this dedicated subfund. The funds will then be used to re-purchase additional inventory for resale. The benefit of using a special purpose fund to account for pro shop sales rather than operating fund budget is to allow for the volume of purchasing to be driven by resale revenue rather than being capped by a finite operating budget amount. The new subfund will be called “Recreation and Parks - Golf Pro Shop Resale Fund”.
Fiscal Impact: Utilizing the City’s Special Purpose Fund will provide the best means for properly tracking and accounting for revenue and expenditures for the golf pro shops.
Title
To authorize the City Auditor, on behalf of the Recreation and Parks Department, to create a new subfund within the City’s Special Purpose Fund to account for funds received and expended for golf pro shop retail sales. ($0.00)
Body
WHEREAS, there is a need to create a new subfund within the City’s Special Purpose Fund to account for funds received and expended for golf pro shop retail sales; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the City Auditor, on behalf of the Recreation and Parks Department, is hereby authorized to establish a subfund within the City’s Special Purpose Fund 2223, titled “Recreation and Parks - Golf Pro Shop Resale Fund” in order to properly track and account for funds received for golf pro shop retail sales.
SECTION 2. That any such future deposits as the City may receive are hereby authorized to be appropriated in the “Recreation and Parks - Golf Pro Shop Resale Fund” upon request by the Director of Recreation and Parks up to the amount of the unappropriated cash balance.
SECTION 3. That the expenditures from this fund shall be for the purchase of retail items for resale in the golf pro shops.
SECTION 4. That this ordinance shall take effect and be in force from and after the earliest period allowed by law.