There is established as a nonlapsing fund the West End Library and Fire Station Maintenance Fund, which shall be used solely to pay the expenses of providing supplemental maintenance service, insurance, and capital replacement for the West End Library and West End Fire Station along with those regularly provided by the District of Columbia Public Library and the Mayor, respectively, and ensuring that both facilities are maintained in a manner that is consistent with the high-quality conditions of the larger buildings of which they are a part. The Chief Financial Officer shall deposit into the Fund 85% of the Deed Transfer and Recordation Taxes attributable to the new buildings constructed on Lots 836, 837, and 855 in Square 37 (or such successor record or assessment and taxation lots as may be created through future subdivision or creation of condominium units). All funds deposited into the Fund, and any interest earned on those funds, shall not revert to the unrestricted fund balance of the General Fund of the District of Columbia at the end of a fiscal year, or at any other time, but shall be continually available for the uses and purposes set forth in subsection (a) of this section without regard to fiscal year limitation, subject to authorization by Congress. The money in the Fund shall be available to be spent pursuant to the Maintenance Agreement. The allocation of monies between the West End Library and the West End Fire Station, to the extent not provided in the Maintenance Agreement, shall be decided jointly by the Board of Library Trustees and the Mayor. The Mayor shall submit to the Council, as a part of the annual budget, a requested appropriation for expenditures from the Fund. Any monies received but not expended in a given fiscal year shall be retained by the Fund. The Fund shall be audited annually by the Inspector General, who shall transmit the audit report to the Mayor and Council no later than 90 days after close of the fiscal year. The annual audit shall include: The assets, liabilities, fund balance, revenue, and expenditures of the Fund; A detailed accounting of the Fund’s expenditures; and Identification of any Fund expenditures that were not permitted under the law.
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