Funds for which the Council exercises appropriation authority shall hereafter be created by ordinance, separate from the budget ordinance, and shall hereafter be codified. Ordinances that create new funds shall include, but are not limited to, the following:

The Director of the Finance Department may establish administrative funds and sub funds for which appropriations might be required or are necessary to meet legal, administrative, and accounting requirements.

The Director of the Finance Department may abolish administrative funds and sub funds when the original purpose for which the fund was created has been satisfied. Any residual balances contained in the abolished fund shall be transferred to an active fund with a similar scope or related purpose or as directed by law.