The Senior Services Division and the Recreation Division of the Community Services Department, the Licensing Department, the Information Technology Department of the Administrative Services Department, the Planning and Development Department, the Marine and Environmental Affairs Department and the Town Manager Department are hereby authorized to operate said funds in the following manner:
A. Revenues. The Finance Director shall account for all funds separately from all other monies of the Town and to which shall be credited only the departmental receipts received in connection with the programs supported by such revolving fund. Receipts credited to each of these revolving funds shall mean the following:
(1) For the Classroom Education Fund and the Recreation Program Fund: program registration fees to participate in these programs.
(2) For the Shellfish Propagation Fund: fees generated from the sale of commercial and recreational shellfish permits and the sale of shellfish-related merchandise.
(3) For Consumer Protection Fund: fees generated for services performed under the weights and measures program.
(4) For the Geographical Information Systems Fund: fees generated for the production of GIS maps and reports.
(5) For the Arts and Culture Program Fund: lease payments received from the rental of artist shanties, gifts or contributions received for the support or promotion of arts and culture programs and any revenue generated from Town-sponsored arts and culture programming.
(6) For the Asset Management Fund: proceeds from the sale of tax foreclosed property and other Town-owned property not specifically required to be accounted for subject to any other general law for the support and promotion of any expenditure related to the Town’s comprehensive asset management program.
B. Expenditures. Expenditures may be made from the revolving funds established and authorized by this article without further appropriation, subject to the following:
(1) Expenditures shall not be made or liabilities incurred from any of the revolving funds in excess of the balance of the fund nor in excess of the total authorized expenditures from such fund. Expenditures from such revolving funds shall be at the approval of the Town Manager or their designee.
(2) Expenditures from said fund shall not be made for the purpose of paying any wages or salaries for full-time employees unless the fringe benefits associated with such wages or salaries are also charged to the fund. Subject to the foregoing, the funds may be expended for payment of teachers, recreational instructors, shellfish propagation officers, weights and measures inspectors, and other expenses of programs providing classroom education to participating senior citizens, programs providing recreational activities to participating residents of the Town, shellfish seed stock and related shellfish propagation equipment and shellfish merchandise purchased for resale, weights and measures enforcement, production of GIS reports and expenses related to the promotion of arts and culture programs and expenses related to the support and promotion of the Town’s asset management program.
(3) The total amount spent during a fiscal year shall not exceed the amount authorized by the Town 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 Town Council.
C. Interest earned on any revolving fund balance shall be treated as general fund revenue of the Town.