The Knox City Council this week approved a resolution to establish a Special Event Fund for the city. Clerk-Treasurer Jeff Houston told the council that he had spoken with the auditor for the State Board of Accounts who will be conducting the audit for Knox, and Houston had asked what to do with donations received for specific events, such as the Fourth of July fireworks.
According to Houston, the State Board of Accounts recommended creating a Special Event Fund to hold donations earmarked for a specific purpose. This fund will be separate from the city’s Donation Fund, which Houston says is used for donations to organizations or departments, such as police.
This new fund will be used to keep track of donations received for special events, but Houston emphasized that all donations going into this fund must be labeled for a specific purpose.
The council approved the resolution creating the Special Event Fund.