Duties and Functions

City Charter section 41(a), Funds Commission. This Commission shall have supervision and control over all trust, perpetuity, and investment funds of the City and such pension funds as shall be placed in its custody, and shall administer them subject to the laws of the State and ordinances of the Council.

The membership of this Commission shall be appointed by the Mayor and confirmed by the Council and shall be one bank official, two unclassified citizens, and the City Attorney and City Treasurer, ex officio. They shall serve without compensation for terms of four (4) years and until their successors are elected and qualified. Notwithstanding any other provision of this section, appointments shall be made so that not more than one (1) term of office shall expire in any year.

Funds Overseen by Commission

Cemetery Perpetuity Fund

The Cemetery Perpetuity Fund is guided by City Charter section 55.  As provided in the City Charter, all income derived from the fund shall be expended for the maintenance and upkeep of the cemetery, including the perpetual care and upkeep of all graves and lots.

Edwin A. Benjamin Memorial Fund

The funds may only be used to improve library resources, services and construction or improvement of library buildings for the Benjamin Memorial Branch Library located in Allied Gardens.

Effie E. Sergeant Memorial Fund

The fund was established by Chloie B. Sergeant, in memory of her mother, to be used for enhancements to the North Park Branch Library.

Gladys Edna Peters Memorial Fund

The fund is to be used exclusively for the procurement and maintenance of large print books and magazines, and related equipment and supplies, for the Rancho Bernardo Branch Library. 

Jane Cameron Fund

The funds are to be used exclusively for the expansion or improvement of the La Jolla/Riford Branch Library, or the improvement or maintenance of its collection. 

Los Penasquitos Canyon Preserve Fund

The fund was established as a result of a land exchange in 1986 with earnings dedicated to the maintenance and enhancement of the Preserve.

Phillip L. Green Memorial Fund

The funds are to be used exclusively to enhance City funds budgeted to purchase, plant, replace, and maintain trees and shrubs in Balboa Park.