[HISTORY: Adopted by the 5-7-2018 Annual Town Meeting, Art. 5. Amendments noted where applicable.]
This by-law establishes and authorizes revolving funds for use
by Town departments, boards, committees, agencies or officers in connection
with the operation of programs or 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 M.G.L. 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 by-law 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 Town Meeting on or before July 1 of that fiscal
year, or any increased amount of that authorization that is later
approved during that fiscal year by the Board of Selectmen and Finance
Committee.
Interest earned on monies credited to a revolving fund established
by this by-law shall be credited to the general fund.
Except as provided in M.G.L. c. 44, § 53E 1/2 and
this by-law, the laws, by-laws, rules, regulations, policies or procedures
that govern the receipt and custody of Town monies and the expenditure
and payment of Town funds shall apply to the use of a revolving fund
established and authorized by this by-law. 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.
5.1.1 Fund name. There shall be a separate fund called the Council
on Aging Revolving Fund authorized for use by the Council on Aging.
5.1.2 Revenues. The Director of Municipal Finance shall establish
the Council on Aging Revolving Fund as a separate account and credit
to the fund all of the user, program and activity fees charged and
received by the Council on Aging in connection with its programs and
activities.
5.1.3 Purposes and expenditures. During each fiscal year, the
Council on Aging may incur liabilities against and spend monies from
the Council on Aging Revolving Fund for the expenses of its fee-based
programs and activities in connection with the services provided by
the Council on Aging.
5.1.4 Fiscal years. The Council on Aging Revolving Fund shall
operate for fiscal years that begin on or after July 1, 2018.
5.2.1 Fund name. There shall be a separate fund called the Council
on Aging Transportation Revolving Fund authorized for use by the Council
on Aging.
5.2.2 Revenues. The Director of Municipal Finance shall establish
the Council on Aging Transportation Revolving Fund as a separate account
and credit to the fund all donations received for transportation services.
5.2.3 Purposes and expenditures. During each fiscal year, the
Council on Aging may incur liabilities against and spend monies from
the Council on Aging Transportation Revolving Fund to fund driver
salaries, vehicle maintenance and other necessary expenses in connection
with the transportation program of the Council on Aging.
5.2.4 Fiscal years. The Council on Aging Transportation Revolving
Fund shall operate for fiscal years that begin on or after July 1,
2018.
5.3.1 Fund name. There shall be a separate fund called the Home
Composting Bin/Recycling Revolving Fund for use by the Department
of Public Works.
5.3.2 Revenues. The Director of Municipal Finance shall establish
the Home Composting Bin/Recycling Revolving Fund as a separate account
and credit to the fund all of the fees charged and received by the
Department of Public Works for composting bins and recycling containers.
5.3.3 Purposes and expenditures. During each fiscal year, the
Department of Public Works may incur liabilities against and spend
monies from the Home Composting Bin/Recycling Revolving Fund for the
expenses of purchasing additional composting bins and recycling containers.
5.3.4 Fiscal years. The Home Composting Bin/Recycling Revolving
Fund shall operate for fiscal years that begin on or after July 1,
2018.
5.4.1 Fund name. There shall be a separate fund called the Cultural
Council Awards Revolving Fund for use by the Cultural Council.
5.4.2 Revenues. The Director of Municipal Finance shall establish
the Cultural Council Awards Revolving Fund as a separate account and
credit to the fund entry fees, grants and donations received by the
Cultural Council.
5.4.3 Purposes and expenditures. During each fiscal year, the
Cultural Council may incur liabilities against and spend monies from
the Cultural Council Awards Revolving Fund for awards and to reimburse
expenses.
5.4.4 Fiscal years. The Cultural Council Awards Revolving Fund
shall operate for fiscal years that begin on or after July 1, 2018.
5.5.1 Fund name. There shall be a separate fund called the Beach
Store Revolving Fund for use by the Natural Resources Department.
5.5.2 Revenues. The Director of Municipal Finance shall establish
the Beach Store Revolving Fund as a separate account and credit to
the fund all fees charged and received by the Natural Resources Department
from the resale of beach store related items.
5.5.3 Purposes and expenditures. During each fiscal year, the
Natural Resources Department may incur liabilities against and spend
monies from the Beach Inventory Revolving Fund to purchase items for
resale and any other expenses related to the beach store.
5.5.4 Fiscal years. The Beach Store Revolving Fund shall operate
for fiscal years that begin on or after July 1, 2018.
5.6.1 Fund name. There shall be a separate fund called the H.K.
Cummings Collection Revolving Fund authorized for use by Snow Library.
5.6.2 Revenues. The Director of Municipal Finance shall establish
the H.K. Cummings Collection Revolving Fund as a separate account
and credit to the fund all of the fees charged and received by Snow
Library in connection with the sale of prints.
5.6.3 Purposes and expenditures. During each fiscal year, the
Snow Library may incur liabilities against and spend monies from the
H.K. Cummings Collection Revolving Fund for the expenses of the reproduction
and digitization of prints in the H.K. Cummings Special Collection.
5.6.4 Fiscal years. The H.K. Cummings Collection Revolving Fund
shall operate for fiscal years that begin on or after July 1, 2018.
5.7.1 Fund name. There shall be a separate fund called the Solar
Credits Revolving Fund authorized for use by the Town.
5.7.2 Revenues. The Director of Municipal Finance shall establish
the Solar Credits Revolving Fund as a separate account and deposit
the revenues received by the Town for net metering credits.
5.7.3 Purposes and expenditures. During each fiscal year, the
Town may incur liabilities against and spend monies from the Solar
Credits Revolving Fund for the Town's utility bills.
5.7.4 Fiscal years. The Solar Credits Revolving Fund shall operate
for fiscal years that begin on or after July 1, 2018.