Cr Dave Cull suggested the fund yesterday, after councillors were told the existing $1.46 million events budget for 2009-10 was almost fully allocated.
That meant submitters like Cadbury, which last week asked for extra money to grow the city's chocolate carnival, would need additional money allocated to do so.
Council staff were still finalising a new events strategy that aimed to grow certain events, and it was yet to be signed off.
That meant money to grow events would have to come from the approval of additional funding, or by reallocating resources within existing events budgets, council strategy and development general manager Kate Styles said.
Cr Cull said the new fund would be preferable to going through individual groups submissions from last week "picking winners".
"If we start picking winners now we are doing the job we should be doing at some future point," he said.
The new fund would be administered according to the criteria of the council's events strategy, and would take the council's total events funding for 2009-10 to about $1.6 million, Cr Cull said.
However, Cr Bill Acklin raised questions about the proposal, saying the timing of a 10% increase in events funding was "putting the cart before the horse".
"Obviously I support events, but when you are trying to watch the rates increase . . . I think this is jumping the gun."
However, Mrs Styles supported attempts to "ratchet up" funding, saying the council would otherwise "let a lot of people down".
Crs Teresa Stevenson and Paul Hudson worried the new fund would lead to delays, with applications to be weighed against each other, that could impact on events.
Cadbury, for example, would be starting work on the chocolate carnival within weeks, and needed to know what money was available - as did other groups, Cr Hudson said.
Funding might not be confirmed until October, and "for some of these organisations it's too late".
"They need certainty, so they know exactly what they can get from outside organisations," Cr Hudson said.
Mrs Styles said submitters wanting additional events funding would be advised "straight away", assuming the fund's creation survived next month's full council meeting on June 2 and final approval on June 22.
The fund was put to the vote and tied, 5-5, but approved for one year after Mr Chin used his casting vote in favour of the fund.
