§ 73-2. Expenditure limitations.

Latest version.

A department or agency head, board, committee or officer may incur liabilities against and spend monies from a revolving fund established and authorized by this bylaw 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.

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 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.

                    
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