Article 41A - Revolving Funds

Section 1 Expenditure Limitations

Liabilities may be incurred against and funds may be expended from a revolving fund established and authorized by this by-law without appropriation subject to the following limitations:

Fringe benefits of full time employees whose salaries or wages are paid from the fund shall also be paid from the fund;
No liability shall be incurred in excess of the available balance of the fund; and,
In any fiscal year, the limit on the amount that may be spent from a revolving fund may be increased with the approval of the board of selectmen and finance committee.

Section 2 Interest

Interest earned on the monies credited to a revolving fund established by this by-law shall be credited to the general fund.

Section 3 Periodic Review of Activity

A report of activity of each revolving fund shall be provided annually to the Board of Selectmen and the Finance Committee.

Section 4 DPW Vehicles and Equipment

Under the supervision of the Director of Public Works and the Town Administrator, the DPW Equipment Maintenance Supervisor may expend on an annual basis an amount up to and including $200,000 for the purpose of purchasing vehicles and equipment, utilizing revenue from the sale of surplus vehicles and equipment.

Section 5 Morse Institute Library Purchase of New Books and Related Materials

Under the supervision of the Library Trustees, the Morse Institute Library Director may expend on an annual basis an amount up to and including $85,000 for the purpose of purchasing new books and other related materials, utilizing revenue collected from fines for overdue materials, and from charges for lost or damaged materials

Section 6 Morse Institute Library Maintenance and Repair of Library Facilities and Equipment

Under the supervision of the Library Trustees, the Morse Institute Library Director may expend on an annual basis an amount up to and including $25,000 for the purpose of maintenance and repair of Library facilities and equipment and the purchase of equipment for the Library, utilizing revenue collected from rental of Library facilities.

Section 7 Community-Senior Center Rental, Maintenance and Improvement Projects

Under the supervision of the Town Administrator, the Community Services Director may expend on an annual basis an amount up to and including $75,000 for the purpose of funding costs associated with operating the facility’s after-hours rental program, maintenance of the Community-Senior Center and improvement projects utilizing revenue received from building rental fees and donations.

Section 8 Flu Clinics, Immunization Programs, Pandemic and Emergency Preparedness

Under the supervision of the Board of Health, the Director of Public Health may expend on an annual basis an amount up to and including $40,000 for the purpose of subsidizing funding for flu Clinics, children and adult immunization programs, pandemic and emergency preparedness utilizing revenue received from Medicare, Medicaid and health insurance reimbursements from the Board of Health’s annual flu clinics.

Section 9 Community-Senior Center Programs and Activities

Under the supervision of the Council on Aging, the Community Services Director and the Director of the Council on Aging may expend on an annual basis an amount up to and including $95,000 for the purpose of funding programs and activities at the Community-Senior Center utilizing revenue received from participants in said programs and activities.

Section 10 Tobacco Control Programs and Enforcement

Under the supervision of the Board of Health, the Public Health Director may expend on an annual basis an amount up to and including $25,000 for the purpose of funding tobacco control programs and enforcement, utilizing revenue received through grants, retail tobacco dealer permit fees and fines.

Section 11. Energy Conservation and Renewable Energy Projects

Under the supervision of the Town Administrator, the Sustainability Coordinator may expend on an annual basis an amount up to and including $25,000 for the purpose of funding energy conservation and renewable energy projects utilizing revenue received through the Town’s Pay for Performance energy rewards program.

Section 12 Tax Title Takings or Tax Title Foreclosures

Under the supervision of the Finance Director, the Treasurer/Collector may expend on an annual basis an amount up to and including $100,000 for the purpose of funding expenses associated with a tax taking or tax title foreclosure utilizing revenue received from fees, charges and costs collected upon either i) the redemption of tax titles and ii) sales of real property acquired through foreclosures of tax titles.

Section 13 Curbside Compost Collection Program

Under the supervision of the Town Administrator, the DPW Director may expend on an annual basis an amount up to and including $20,000 for the purpose of funding expenses associated with the curbside compost collection program utilizing revenue received through fees paid by program participants.