[Adopted 12-3-2018 by Ord. No. 2018-187 (§ 3.20 of the 1993 Code)]
It is the purpose of this article to establish and authorize revolving funds for use by City departments, boards, committees, agencies and officers in connection with the operation of programs and activities that generate fees, charges, or other receipts to support all or some of the expenses of those programs or activities. These revolving funds are established under and governed by MGL c. 44, § 53E 1/2.
A department or agency head, board, committee or officer may incur liabilities against and spend monies from a revolving fund established and authorized by this article without appropriation subject to the following limitations:
A. 
Fringe benefits of full-time employees whose salaries or wages are paid from the fund shall also be paid from the fund.
B. 
No liability shall be incurred in excess of the available balance of the fund.
C. 
The total amount spent during a fiscal year shall not exceed the amount authorized by the City Council on or before July 1 of that fiscal year, or any increased amount of that authorization that is later approved by the Mayor and City Council.
Interest earned on monies credited to a revolving fund established by this article shall be credited to the general fund.
Except as provided in MGL c. 44, § 53E 1/2, and this article, the laws, Charter provisions, ordinances, rules, regulations, policies or procedures that govern the receipt and custody of City monies and the expenditure and payment of City funds shall apply to the use of a revolving fund established and authorized by this article. The Director of Municipal Finance shall include a statement on the collections credited to each fund, the encumbrances and expenditures charged to the fund and the balance available for expenditure in the regular report the Director of Municipal Finance provides the department, board, committee, agency or officer on appropriations made for its use.
The attached table establishes:
A. 
Each revolving fund authorized for use by a City department, board, committee, agency or officer;
B. 
The department or agency head, board, committee or officer authorized to spend from each fund;
C. 
The fees, charges and other monies charged and received by the department, board, committee, agency or officer in connection with the program or activity for which the fund is established that shall be credited to each fund by the City Auditor;
D. 
The expenses of the program or activity for which each fund may be used;
E. 
Any restrictions or conditions on expenditures from each fund;
F. 
Any reporting or other requirements that apply to each fund; and
G. 
The fiscal years each fund shall operate under this article.