A.
There is hereby established a monthly stipend program that shall be available to active members of the Leonia Volunteer Fire Department. The amount to be paid to each such active member shall be based upon participation and response to alarms of fires and for attendance at and successful completion of required training sessions as may be scheduled by the Chief of the Department and his/her designee.
B.
The amount of the monthly stipend to be paid to each eligible member shall be paid quarterly by the Borough Personnel Officer through the Borough payroll system.
C.
The amount of such monthly payment shall be based upon a formula approved by the Mayor and Council and shall be within the budget allocation of the adopted annual budget of the Borough.