|
Lexington Home Page
|
Help
|
About
|
Browse
Search
2019-03-25-AC-ATM-rpt
Breadcrumb Navigation:
TownOfLexington-Public
>
WEB PUBLISHED-PUBLIC DOCUMENTS
>
MINUTES-REPORTS-COMMITTEES ARCHIVE
>
Appropriation Committee-AC
>
Minutes
>
2010-2019
>
2019
>
2019-03-25-AC-ATM-rpt
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
3/2/2022 3:29:57 PM
Creation date
3/25/2019 11:19:40 AM
Metadata
Fields
Template:
Archives
Year
2019
Keywords or Subject
Minutes - AC - Appropriation Committee
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
69
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
APPROPRIATION COMMITTEE-2019 ATM <br /> Appendix C: Revolving Funds <br /> Ordinarily,revenue received by any municipal department must be deposited in the General Fund and can- <br /> not be expended for any purpose without further appropriation by Town Meeting. A revolving fund allows <br /> Town Meeting to dedicate in advance a specific source of anticipated revenue from fees and charges, on an <br /> ongoing basis and without the need for further appropriation,to pay expenses for rendering the services for <br /> which those fees and charges are collected. <br /> Revolving funds managed by municipal departments are generally governed by G.L.c.44, § 53E1/2. (There <br /> are also a number of revolving funds managed by the School Department, such as the School Lunch Fund, <br /> which are governed by other statutes and are not within the control of Town Meeting.) Under Section <br /> 53E1/2, a municipal revolving fund can be established only by vote of Town Meeting. <br /> That authorization must be renewed prior to each succeeding fiscal year. The authorization must specify: <br /> • the purpose(s) for which monies deposited in the fund may be used <br /> • the source(s) of funds to be deposited <br /> • the board, department or officer authorized to expend monies from the fund <br /> • a limit on the total amount that may be expended from the fund in the ensuing fiscal year <br /> Expenditures may not be made, nor liabilities incurred, in excess of the balance of the fund. if a revolving <br /> fund is reauthorized,any balance in the fund may be carried over to the next fiscal year.If a revolving fund <br /> is not reauthorized,or if the purposes for which the money in the fund may be spent are changed,the balance <br /> in the fund reverts to the General Fund at the end of the fiscal year unless Town Meeting votes to transfer <br /> the funds to another duly established revolving fund. <br /> 54 <br />
The URL can be used to link to this page
Your browser does not support the video tag.