Explanation
BACKGROUND:
City Council established a Special Revenue fund titled "Public Utilities Small Business Education and Training Fund" via ordinance 2791-2012, passed on 2/4/2013. This fund is authorized to accept revenue from small business training and educational activities for the production and development of small, minority, and female business training and special events. The purpose of the Special Revenue fund is to carry out small business training activities and to use proceeds from these activities for additional training activities and events. These activities generate revenues through admission fees to said events. Revenue monies are only expended on costs associated with the above training activities and events. All City procurement procedures are followed for the purchases related to this fund.
Effective January 1, 2017, the Equal Business Opportunity Commission Office will become the Office of Diversity and Inclusion (ODI) assuming approval by City Council via a subsequent piece of legislation. As part of the department's reorganization and increased focus on expanding opportunities for small businesses in the region, ODI will be solely responsible for the development and facilitation of the City's future small business training and special events that this Special Revenue fund was established to accommodate. Therefore, this ordinance will authorize the City Auditor to rename the fund, "Small Business Education and Training Fund". In addition, this ordinance will authorize the Director of the Equal Business Opportunity Commission Office (to be ODI in 2017) to establish fees and other charges for such small business training and events to be deposited into this Special Revenue fund in order to help offset the operational costs of future events.
FISCAL IMPACT: No funding is required for this legislation. The revenue deposited into this Special Revenue fund will continue to help offset a portion of the operational costs associated...
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