As authorized by the provisions of Massachusetts General Laws
chapter 44, § 53E½, this chapter establishes and
authorizes revolving funds for use by city departments, or 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.
(C.O. 18-142, § 1, 5/21/2018)
A department head, or agency head, board, committee or officer
may incur liabilities against and spend monies from a revolving fund
established and authorized by this ordinance 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; excluding full-time or
part-time school bus drivers.
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 during that fiscal year by the city council and mayor.
(C.O. 18-142, § 1, 5/21/2018)
Interest earned on monies credited to a revolving fund established
by this chapter shall be credited to the general fund.
(C.O. 18-142, § 1, 5/21/2018)
Except as provided in General Laws chapter 44, § 53E½
and this chapter, 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 chapter. The city auditor 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 city auditor provides the department, board, committee,
agency or officer on appropriations made for its use.
(C.O. 18-142, § 1, 5/21/2018)
See Appendix—Tables; Table VII.
(C.O. 18-142, § 1, 5/21/2018)
