Creation of the Municipal Planning Council Revolving Fund

There is hereby established nineteen

(19)Municipal Planning Council Revolving Funds under the control and custody of the respective village Municipal Planning Councils. Each village shall establish their own fund that will be separate and apart from other funds, including the General Fund. The Mayors’ Council of Guam is hereby authorized to set charges for the use of community centers and all sports facilities, except village gymnasiums. These proposed fees shall be submitted to I Liheslaturan Guåhan for approval. The Mayor and the Municipal Planning Councils of each village are hereby authorized to raise funds through charging commercial enterprises to advertise on the walls of their sports facilities, raise funds through fundraising efforts to include approving concessionaire activities within each municipality as approved by its CH. 40 MAYORS OF GUAM Municipal Planning Council, solicit corporate sponsorship, and to accept contributions that are solely beneficial to the sports facilities or village. These revenues shall be deposited into the Municipal Planning Council Funds of each village, and shall be used for the operation and maintenance of these facilities, and to fund special projects identified by the Municipal Planning Councils.

(a)The Mayors shall take all action to ensure that the Revolving Funds are operating in conformity with all existing statutes, rules and regulations, codes, executive orders and any other authority, which is applicable to the operations of the Revolving Funds. Any balance remaining in the funds at the end of the fiscal year shall carry over into the next fiscal year or until expended.

(b)All disbursement transactions on the Revolving Funds shall be as stipulated herein:

(1)the Municipal Planning Council of each village shall approve all expenditures for that particular village;

(2)the minutes of the meetings must verify the authorization given by the Municipal Planning Council;

(3)there must be two

(2)authorized signatures; authorized signatures shall be determined by the Mayor and the Chairperson of the Municipal Planning Council, or a member designee;

(4)the Mayor shall be responsible for receipts and other substantiation as determined by the Municipal Planning Council for all checks issued; and

(5)each Mayor shall submit a financial statement at the end of each fiscal year to the Mayors’ Council of Guam.