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Town of Ellington, CT
Tolland County
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Table of Contents
Table of Contents
Code
New Laws (1) Index
[Adopted 2-11-2019 by Town Meeting; effective 3-7-2019]
The Town of Ellington does hereby authorize the creation of a special nonlapsing fund to be known as the "Board of Education Special Revenue Fund." The fund shall be used by the Board of Education to facilitate the administration of special education programs.
Contributions to the fund shall be received from tuition and fees for special education programming and services, as well as Medicaid reimbursements.
Fund contributions may be invested, as deemed appropriate by the Ellington Finance Officer, in (a) certificates of deposit with either national or state banks located in the Town or any other Connecticut town, (b) cash deposits with mutual savings banks located in the Town or any other Connecticut town, or (c) securities in which public funds may lawfully be invested. All income derived from such investments shall be paid into the fund and become a part thereof.
The fund shall be in the custody of the Ellington Finance Officer and shall not become a part of the Town's general fund. The fund shall not be reduced or used for purposes other than those specifically provided in § 80-20 above. Except as otherwise specifically authorized in § 80-22 above, all fund contributions shall be deposited in an account wherein the fund's income shall accumulate until such time as expenditures from the fund are authorized by the Board of Education. The fund may be commingled, in the discretion of the Ellington Finance Officer, to maximize income and minimize management costs, provided that the fund shall always be accounted for as a separate fund.
A. 
The Board of Education shall administer and control the fund and shall, when it deems the situation appropriate, approve expenditures for the purposes contained in § 80-20 above. Expenditures from the fund shall adhere to the regular appropriation rules and procedures governing Town expenditures.
B. 
The fund may be liquidated only by a decision of the Board of Selectmen after consultation with the Board of Education, Finance Officer and the Town Attorney; provided, however, that the fund shall remain in effect until such time as all claims required to be paid under the Town and/or Board of Education's contractual obligations have been satisfied.