Chapter 3.45 FUNDS

(A) There is established a fund of the municipality to be known as the corporation general fund, which is the foundational fund of the municipal treasury, as set forth in HMC 3.40.020(C);

(B) The corporation general fund shall be further organized by departments, as required by law, which shall consist of the following:

(1) Office of the town council;

(2) Office of the clerk-treasurer;

(3) Advisory board of zoning appeals department;

(4) Plan commission department;

(5) Building, inspection and zoning department;

(6) Police department;

(7) Fire department;

(8) Municipal (Town Hall) Building and monuments department;

(9) Works board department;

(10) Volunteers in police services (VIPS) department;

(C) The clerk-treasurer in consultation with the town council president shall be authorized to establish such other departments as may be deemed necessary or desirable; provided, that any new department be reported to the town council;

(D) Expenditures from this fund may only be for the purposes for which this fund is established, which is to support the operation of the local government and any lawful purpose of the municipality;

(E) Appropriations. Expenditures from the fund may be made only upon appropriation by the fiscal body for the purpose for which the fund and its departments are specifically established, in the manner provided by statute for making other appropriations, and shall be disbursed only on approved accounts payable vouchers allowed by the legislative body, all pursuant to IC 5-11-10 and 36-5-4;

(1) Notwithstanding the previous provision certain expenditures and disbursements may be made from the fund, pursuant to IC 5-11-14-1(i) and where permitted by other laws or regulations;

(F) Investments Authorized. Pursuant to IC 5-13-9, and Chapter 3.40 HMC, money in the fund may be invested; provided, that the yields from the purchase and sale of any such investments be deposited with the fund;

(G) Fund Sources. The corporation general fund consists of all moneys paid in to the treasury, which are not by operation of statute, rule ordinance or requirement of the donor, dedicated to another fund or for another purpose, all pursuant to HMC 3.40.020(D). Further, funds may include but are not limited to the following:

(1) Gifts and donations from any person or entity given expressly for the purposes and objects of the fund, unless otherwise directed by law or ordinance or action of the legislative body;

(2) User fees, licenses, permits, and other charges which may from time to time be authorized and fixed by the legislative body for a lawful purpose;

(3) Fines, filing fees, and penalties;

(4) Intergovernmental revenues of any kind, taxes and charges as provided by law;

(5) Grants from federal, state, local governmental sources or from such other entities as may be provided by law;

(6) Proceeds from other funds of the municipality that have been defeased or for which the purposes of such fund have been achieved, completed or abandoned, and revert to the fund;

(7) Proceeds from the liquidation of assets of the municipality including personal and real property, not required to be deposited elsewhere, including the sale of abandoned property, in the custody of the municipality, provided it is not required to be deposited in another fund pursuant to law;

(H) Preservation and Disposition of Fund Assets. All unused and unencumbered cash on deposit to the credit of the corporation general fund shall remain with tax fund until such time as the town council authorizes a transfer of any remaining unexpended, unencumbered assets of the fund, all subject to IC 36-1-8-5. [Ord. 1660 § 2, 2017].

Article I. General Funds

3.45.010 Traffic and law violations agency fund.

(A) There is hereby established a fiduciary agency fund to be known as the traffic and law violations agency fund.

(B) The fund is a fiduciary or agency fund established to account for those fines and fees outlined in IC 33-37-4-2 and collected pursuant to IC 34-28-5-1 et seq. as payable offenses before a traffic violations clerk, which the unit holds in a trustee capacity, pursuant to the laws of the state of Indiana.

(C) In addition, the fund is a fiduciary or agency fund to account for money received by EFT or ACH, in consequence of an arrest in which a bail or surety, as defined by and pursuant to IC 35-33-8 et seq., is posted by credit card, and is to be held by the municipality in a temporary or custodial capacity;

(D) In addition, the fund is a fiduciary or agency fund to account for money derived from seized and forfeited assets or the proceeds from the sale of seized and forfeited assets not otherwise covered by laws of the United States, or its executive departments, or derived from Indiana court orders, entered agreements and/or judgments, which are the subject of a criminal investigation from which a seizure and forfeiture is occasioned, pursuant to IC 34-24-1-8 et seq. or 34-4-30.5 et seq., not covered by IC 36-8-6-4, and is to be held by the municipality in a temporary or custodial capacity;

(E)(1) Funds on deposit to this fund are custodial in nature, so expenditures from this fund shall be pursuant to and in support of the purposes set forth in subsections (B), (C) and (D) of this section according to laws of the state of Indiana.

(2) The establishment or the purposes of this fund shall not be in derogation of the lawful purposes or construed to exclude the lawful purpose or expenditure from such other funds for the same or similar purposes.

(F) The sources of money for the fund are the following:

(1) Local payable fines associated with a moving traffic violation as set forth in an ordinance of the municipal corporation;

(2) Infraction or ordinance violation court costs fees collected pursuant to IC 33-37-4-2(a);

(3) Any additional fees outlined in and collected pursuant to IC 33-37-4-2(b);

(4) Infraction deferral fees collected pursuant to IC 33-37-4-2(e) and 34-28-5-1 et seq.;

(5) Money derived from seized and forfeited assets or the proceeds from the sale of seized and forfeited assets not otherwise covered by laws of the United States, or its executive departments, nor covered by IC 36-8-6-4, but which are the subject of a criminal investigation from which a seizure and forfeiture is occasioned, pursuant to IC 34-24-1-8 et seq. or 34-4-30.5 et seq.;

(6) Money derived from Indiana court orders, entered agreements and/or judgments, associated with a criminal investigation from which a seizure and forfeiture is occasioned, pursuant to IC 34-24-1-8 et seq. or 34-4-30.5 et seq.;

(7) Money remitted to the municipal treasury by EFT or ACH, in consequence of a payment by credit card posted to provide a bail or surety as defined in and pursuant to IC 35-33-8 to assure appearance at the appropriate legal proceeding, to ensure another person’s physical safety, or to ensure the safety of the community.

(G) Expenditures from the fund shall be made pursuant to the provisions of IC 33-37-4-2(c) or pursuant to an order of an Indiana Court, shall be considered appropriated and may be disbursed on approved claims allowed by the town council pursuant to IC 5-11-10 and 36-5-4 and is hereby described an allowable advance expense according to the terms of IC 36-5-4-12(b)(13).

(H)(1) All unused and unencumbered monies do not revert to any fund but the fund created by this article;

(2) The sources of revenue for this fund are hereby determined and shall be construed as being received from the dedicated funds of the state under its laws and, as such, the unused and unencumbered balance of an appropriation does not revert at the end of the fiscal year to the fund created by this article, pursuant to IC 36-1-8-6(d).

(I) Nonreverting as to Cash. All unused and unencumbered monies do not revert to any fund but the fund created by this chapter. Further, the sources of revenue for this fund are hereby determined and shall be construed as being received from the dedicated funds of the state under its laws and, as such, the unused and unencumbered balance of an appropriation does not revert at the end of the fiscal year to the fund created by this chapter, pursuant to IC 36-1-8-6(d).

(J) The clerk-treasurer as municipal fiscal officer is hereby directed and authorized to perform such duties and keep such accounts as to fulfill the purpose of the funds herein named and to carry out the provisions of this section. [Ord. 1466 § 1, 2010. Code 2000 § 31.01].

3.45.020 Capital projects retainage agency fund.

(A) There is hereby established a fiduciary agency fund to be known as the capital projects retainage agency fund;

(B) The fund is a fiduciary or agency fund established to account for retainage collected in consequence of a public works or capital improvement project:

(1) Retainage is the amount withheld from a payment to the contractor or subcontractor until the occurrence of specified event, as defined in IC 36-1-12-1.2(10) and collected pursuant to IC 36-1-12-14, pursuant to the laws of the state of Indiana;

(2) A public works or capital improvement project shall include the construction, reconstruction, alteration, or renovation of a public building, airport facility, or other structure that is paid for out of a public fund or out of a special assessment. The term includes the construction, alteration, or repair of a highway, street, alley, bridge, sewer, drain, or other improvement that is paid for out of a public fund or out of a special assessment. The term also includes any public work leased by a political subdivision under a lease containing an option to purchase, all pursuant to IC 36-1-12-2. Further, it should include capital improvement projects undertaken by municipal departments and political subdivisions, pursuant to IC 8-1.5-4, 36-7-12, 36-7-14, 36-7-14.5, 36-7-21, 36-7-22, 36-7-25, 36-7-26, 36-8-14.5, 36-8 et seq., 36-9 et seq., and 36-10-3;

(3) Funds on deposit to this fund are custodial in nature, so expenditures from this fund shall be pursuant to and in support of the purposes set forth in this section according to laws of the state of Indiana;

(C) The establishment or the purposes of this fund shall not be in derogation of the lawful purposes or construed to exclude the lawful purpose or expenditure from such other funds for the same or similar purposes;

(D) The sources of money for the fund are the following:

(1) Retainage collected in consequence of a public works or capital improvement project, as set forth in IC 36-1-12, in which the contracts are valued in excess of the threshold set forth in IC 36-1-12-14, and to which the contractor has agreed to permit the required withholding from a payment to the contractor or subcontractor until the occurrence of specified event to be held by the municipality;

(2) Retainage collected in consequence of a public works or capital improvement project, as set forth in IC 36-1-12, in which the contracts are not valued in excess of the threshold set forth in IC 36-1-12-14 but for which there is a voluntary agreement by a public works contractor to permit withholding from a payment to the contractor or subcontractor until the occurrence of specified event to be held by the municipality;

(3) Interest earned pursuant to IC 5-13-9 and Chapter 3.40 HMC. Such interest shall be subject to IC 36-1-12-14(b);

(E) The sources of money for the fund will not include room use or leasehold deposits which may be collected from time to time by departments of the municipality nor any withholding as retainage to which a contractor has directed be placed with a bank or state as escrow agent;

(F) Such retainage as may be collected shall be withheld in the amounts as set forth in the provisions of IC 36-1-12 or as may be set forth in an agreement between the contractor and the municipality;

(G) Expenditures from the fund shall be made pursuant to the provisions of IC 36-1-12 and 32-34-1 (if applicable) and the terms of a lawful agreement governing the retainage payment;

(1) The funds on deposit to the fund are considered appropriated and may be disbursed on approved claims allowed by the town council or the proper board or commission of jurisdiction, pursuant to IC 5-11-10 and 36-5-4;

(2) In the event that the retainage for a project is comprised of several sources of funds, under the jurisdiction of several fiscal bodies, the funds on deposit to the fund associated with a particular project’s retainage may either be disbursed on approved claims allowed by the board of works, each proper board or commission of jurisdiction according to the components of the retainage, or a board, council, or commission specified according to an intergovernmental agreement authorized under IC 36-1-7;

(H) All unused and unencumbered monies do not revert to any fund but the fund created by this section subject to the following:

(1) The sources of revenue for this fund are hereby determined and shall be construed as being received from dedicated funds. As such, the unused and unencumbered balance of an appropriation does not revert at the end of the fiscal year to the fund created by this section, pursuant to IC 36-1-8-6(d);

(2) The amount remaining after subtracting all escrowed principal from all escrowed income, that is not otherwise obligated or encumbered according to an agreement nor subject to unclaimed property law of IC 32-34-1, shall be construed as unobligated, unreserved fund balance that upon a resolution of the town council or proper board or commission of jurisdiction, may be transferred to the corporation general fund or the general operating fund of the respective board or commission of jurisdiction;

(I) The clerk-treasurer shall keep such records and accounting so as to discretely identify retainage balances according to project or contract as may be on deposit to the fund created by this section. The clerk-treasurer, as municipal fiscal officer, is hereby further directed and authorized to perform such duties and keep such accounts as to fulfill the purpose of the fund herein named and to carry out the provisions of this section. [Ord. 1392 § 1, 2008. Code 2000 § 31.01.01].

3.45.030 Law enforcement community block grant fund.

(A) There is hereby established a special revenue fund to be constituted as a dedicated fund to be known as the law enforcement community block grant fund;

(B) The fund is dedicated and established to account for funds for law enforcement programs of the municipality that are undertaken in support of and pursuant to the laws of the United States and the guidelines of United States Justice Department as stipulated in the terms of the local law enforcement community block grant for augmenting community police presence through bicycle patrols;

(C)(1) Expenditures from this fund shall be for the purposes and in support of the purposes set forth in subsection (B) of this section according to laws of the United States and according to guidelines set forth by the United States Department of Justice and the relevant office governing this grant;

(D) The sources of money for the fund are to be from money derived from this nonreimbursement federal grant as may be consistent with the objects of the fund;

(E) Expenditures from the fund may be made pursuant to the laws of the United States and the guidelines of the United States Department of Justice and are hereby deemed dedicated and appropriated for the purpose for which the fund is specifically dedicated, in the manner provided by statute for making other appropriations and shall be disbursed only on approved claims allowed by the town council pursuant to IC 5-11-10 and 36-5-4 and is hereby described as an allowable advance expense according to the terms of IC 36-5-4-12(b)(13);

(F) The unused and unencumbered balance of the appropriation shall not revert at the end of the year, all pursuant to IC 36-1-8-6(d);

(G) The clerk-treasurer as municipal fiscal officer is hereby directed and authorized to perform such duties and keep such accounts as to fulfill the purpose of the funds herein named and to carry out the provisions of this enactment. [Ord. 1052, 1996. Code 2000 § 31.02].

3.45.040 Traffic and children safety grant fund.

(A) Establishment. A special revenue fund is hereby established as a dedicated fund to be known as the traffic and children safety grant fund.

(B) Purpose. The fund is dedicated and established to provide resources for law enforcement projects and programs of the municipality that are undertaken in support of and pursuant to the laws of the nation, state, and town which are particularly devoted to traffic control, traffic safety, child safety, pedestrian safety, passenger safety, and related functions.

(1) Expenditures from this fund shall be for the purposes and in support of the purposes set forth in subsection (B) of this section and according to the laws and relevant guidelines governing the disposition of the assets which comprise the fund.

(2) Neither the establishment nor the purposes of this fund shall be in derogation of the lawful purposes or construed to exclude the lawful purpose or expenditure from such other funds of the municipality for the same or similar purposes.

(D) Source of Funds. The sources of money for the fund are the following:

(1) Gifts and donations from any person given expressly for the purposes and objects of the fund.

(2) Grants, awards, or prizes that are given in support and in consequence of law enforcement efforts or programs for traffic control, traffic safety, child safety, pedestrian safety, passenger safety, and related programs.

(3) Grants, awards, or prizes that are given in support and in consequence of law enforcement efforts for sobriety enforcement, provided such moneys are not required to be accounted for in another fund.

(4) Grants, awards, or prizes that are given in support and in consequence of law enforcement efforts under such programs as the Indiana Automotive Safety Program, the Safe Kids Project, and which support the establishment of Car Seat Fitting Station.

(5) Pursuant to IC 5-13-9, moneys in the fund may be invested; provided, that the yields from the purchase and sale of any such investment be deposited with the fund.

(E) Expenditures from the fund may be made pursuant to the laws and guidelines of the relevant jurisdiction and are hereby deemed dedicated and appropriated for the purpose for which the fund is specifically dedicated, in the manner provided by statute for making other appropriations, and shall be disbursed only on approved claims allowed by the town council pursuant to IC 5-11-10 and 36-5-4.

(F) The clerk-treasurer, as municipal fiscal officer, is hereby directed and authorized to perform such duties and keep such accounts as to fulfill the purpose of the funds herein named and to carry out the provisions of this enactment. [Ord. 1124, 1999. Code 2000 § 31.03].

3.45.050 Local levy excess and property tax relief fund.

Repealed by Ord. 1660. [Ord. 1170 § 1, 2001. Code 2000 § 31.04].

3.45.055 Motor vehicle highway fund. Revised 1/22

(A) There is established a fund of the municipality to be known as the motor vehicle highway fund, pursuant to IC 8-14-1 et seq.

(B) The motor vehicle highway fund shall be further organized by departments, as required by law, which shall consist of the following:

(1) Administration and maintenance department. This department shall support the expenses associated with the following purposes:

(a) Excluding bridges, the constant making of needed repairs, to preserve a smooth surfaced highway, adequately drained, marked and guarded by protective structures for public safety;

(b) The acquisition and use, in any manner, of all needed equipment, fuel, materials, and supplies essential and incident thereto;

(c) All lawful purposes associated with the motor vehicle highway fund under IC 8-14 that are not assigned to the construction, reconstruction, and preservation fund;

(2) Construction, reconstruction and preservation (CRP) department. This department shall support the expenses associated with the following restricted statutory purposes:

(a) The planning, supervising, inspecting, actual building, draining, and all expenses incidental to the construction of a highway;

(b) A widening or a rebuilding of the highway or any portion thereof;

(c) The preventative treatment, nonstructural treatment, rehabilitation, or structural repairs made to transportation infrastructure and related drainage that are included in an asset management plan approved by the Indiana Department of Transportation in collaboration with the local technical assistance program at Purdue University;

(C) The clerk-treasurer in consultation with the town council president shall be authorized to assign and allocate the distributions pursuant to law to align the revenue with the departments’ functions, pursuant to the provisions of IC 8-14-1-5(c), as may be deemed necessary or desirable; provided, that assignments and allocations be reported to the town council, and that at least 50 percent of the motor vehicle highway distribution be allocated or assigned to the functions of the construction, reconstruction, and preservation department;

(D) Expenditures from this fund may only be for the purposes for which this fund and the departments are established, as follows:

(1) The construction, reconstruction, repair, maintenance, oiling, sprinkling, snow removal, weed and tree cutting and cleaning of municipal highways as herein defined, including any curbs, provided these expenses are posted to the proper department;

(2) To pay the town’s share of the cost of the separation of the grades of crossing of public highways and railroads, provided these expenses are posted to the proper department;

(3) The purchase or lease of highway construction and maintenance equipment, provided these expenses are posted to the proper department;

(4) The purchase, erection, operation and maintenance of traffic signs and signals, and safety zones and devices, provided these expenses are posted to the proper department; and

(5) The painting of surfaces in highways for purposes of safety and traffic regulation, provided these expenses are posted to the proper department;

(6) The payment of principal and interest on bonds sold primarily to finance road, street, or thoroughfare projects;

(7) Pursuant to IC 8-14-1-5(c), at least 50 percent of the distributions coming into the fund shall be used for construction, reconstruction, and preservation of the municipality’s highways.

(E) For the purposes of this section, the following terms shall possess the following meanings:

(1) “Highways” includes roadways, rights-of-way, bridges, drainage structures, signs, guardrails, protective structures in connection with highways, drains, culverts, and bridges and the substructure and superstructure of bridges and approaches thereto and streets and alleys of the town;

(2) “Construction” means the planning, supervising, inspecting, actual building, draining, and all expenses incidental to the construction of a highway;

(3) “Reconstruction” means a widening or a rebuilding of the highway or any portion thereof;

(4) “Maintenance,” when used in reference to the town as applied to that part of the highway other than bridges, means the constant making of needed repairs, to preserve a smooth surfaced highway, adequately drained, marked and guarded by protective structures for public safety and such term also means and includes the acquisition and use, in any manner, of all needed equipment, fuel, materials, and supplies essential and incident thereto;

(5) “Preservation” means the preventative treatment, nonstructural treatment, rehabilitation, or structural repairs made to transportation infrastructure and related drainage that are included in an asset management plan approved by the Indiana Department of Transportation in collaboration with the local technical assistance program at Purdue University.

(F) Appropriations. Expenditures from the fund may be made only upon appropriation by the fiscal body for the purpose for which the fund and its departments are specifically established, in the manner provided by statute for making other appropriations, and shall be disbursed only on approved accounts payable vouchers allowed by the board, all pursuant to IC 5-11-10 and 36-9-25-32(b).

(G) Investments Authorized. Pursuant to IC 5-13-9 and Chapter 3.40 HMC, money in the fund may be invested; provided, that the yields from the purchase and sale of any such investments be deposited with the fund.

(H) Fund Sources. The motor vehicle highway fund consists of all moneys authorized to be collected and deposited to its credit under IC 8-14-1 et seq. Further, funds may include but not be limited to the following:

(1) Intergovernmental revenues of any kind, taxes and charges as provided by law;

(2) Grants from federal, state, local governmental sources or from such other entities as may be provided by law;

(3) Proceeds from the liquidation of assets of the department including personal and real property, not required to be deposited elsewhere, including the sale of abandoned property, in the custody of the department, provided it is not required to be deposited in another fund pursuant to law.

(I) Preservation and Disposition of Fund Assets. All unused and unencumbered cash on deposit to the credit of the fund shall remain with motor vehicle highway fund, subject to transfer to the rainy day fund. [Ord. 1761 § 1, 2021].

3.45.060 Special event petty cash fund.

(A) There is hereby authorized, created and established a petty cash fund to be known as the special event petty cash fund, pursuant to the provisions of IC 36-1-8 et seq.

(B) The clerk-treasurer is permitted to establish a petty change fund in support of this section:

(1) The special event petty cash fund shall be established by a warrant not to exceed $500.00 drawn from the proper appropriated or nonappropriated balance of the nonreverting special event fund in favor of the clerk-treasurer, who is the custodian of the fund;

(2) The establishing warrant and such successive warrants as shall be necessary to resupply the fund shall be drawn in favor of the clerk-treasurer, who shall convert the warrant to cash;

(3) The custodian of the petty cash fund shall use it to pay small emergency or exigent items of operating expense, in order to support the duties and to carry out special event purposes;

(4) A receipt shall be taken for each expenditure made from the fund;

(5) The financial secretary of the commission shall periodically file a voucher, with all original receipts totaling the cash claimed expended being attached to it, so that the fund can be reimbursed for expenditures from it;

(6) Reimbursement must be approved and allowed at any regular or special meeting of the town council, and made in the same manner as is required for other expenditures of the town;

(7) The custodian of the fund shall account for it in the same manner as is required of other funds of the town.

(C) The entire petty cash fund authorized and established pursuant to this section shall be returned to the nonreverting special event fund whenever there is a change in the custodian of the fund.

(D) The entire petty cash fund authorized and established pursuant to this section shall be returned to the nonreverting special event fund or, in the absence of this fund, the corporate general fund of the municipality, whenever the purposes of the fund have substantially changed or the fund is no longer needed. [Ord. 1335 § 2, 2006; Ord. 1385 § 3, 2008; Ord. 1398 § 3, 2008. Code 2000 § 31.05].

3.45.065 Special events cash change fund. Revised 7/21

(A) There is hereby authorized, created and established a cash change fund for use by the community events commission to be known as the special events cash change fund, pursuant to the provisions of IC 36-1-8 et seq.;

(B) The community events commission chair, second vice chair and such other commission members as the chairperson may designate are permitted to collect cash revenues at venues of special events in order to support the duties outlined in and to carry out the purposes of Chapters 11.15 and 11.20 HMC:

(1) The clerk-treasurer is permitted to establish a cash change fund in support of the purposes of Chapter 11.15 HMC;

(2) Such a fund must be established by a warrant drawn upon the appropriate fund in favor of the clerk-treasurer, who is the custodian of the fund;

(C) The fund shall be established by a warrant drawn from the proper appropriated or nonappropriated balance of the special events nonreverting fund, as the town council may direct, in the amount of $200.00, in support of the establishment of such a cash change fund:

(1) The establishing warrant and such successive warrants as shall be necessary to resupply the fund shall be drawn in favor of the clerk-treasurer who shall convert the warrant to cash;

(2) The community events commission chair, second vice chair and such other commission members as the chairperson may designate shall use it to make change when collecting rates and charges for programs or services performed under the authority of Chapter 11.15 HMC; and

(3) The community events commission chair shall account for it in the same manner as is required of other funds of the town;

(D) Upon the conclusion of any special event, the entire corpus of the cash change fund authorized and established pursuant to this section shall be returned to the special events nonreverting fund, or the fund of its origin;

(E) Whenever there is a change in the custodian of the fund, the entire corpus of the cash change fund authorized and established pursuant to this section shall be returned to the special events nonreverting fund, or the fund of its origin;

(F) The entire corpus of the cash change fund authorized and established pursuant to this section shall be returned to the special events nonreverting fund or the fund of origin, whenever the purposes of the fund have substantially changed or the fund is no longer needed. [Ord. 1737 § 2, 2021].

3.45.070 Public works petty cash fund.

(A) There is hereby authorized, created and established a petty cash fund for use by the public works department to be known as public works petty cash fund, pursuant to the provisions of IC 36-1-8 et seq.;

(B) The public works director and such employees as the public works director may designate are permitted to use it to pay small, emergency or exigent items of operating expense, according to guidelines that the municipal fiscal officer may establish, in order to support the duties outlined in and to carry out the purposes of this chapter:

(1) The public works director is permitted to establish a petty change fund in support of this section;

(2) Such a fund must be established by a warrant drawn upon the appropriate fund in favor of the public works director, who is the custodian of the fund;

(3) Each expenditure from the petty cash change fund shall be supported by a receipt;

(4) The public works director, as custodian of the fund, or his designee, shall periodically file a voucher, with all original receipts totaling the cash claimed expended being attached to it, in support of the reimbursement of expenditures from the fund;

(5) Reimbursement must be approved and allowed at any regular or special meeting of the town council or proper board of jurisdiction and made in the same manner as is required for other expenditures of the municipality or the public works department.

(C) The fund shall be established by a warrant drawn from the proper appropriated or nonappropriated balance of the corporation general fund or other fund, as the town council may direct, in the amount of $175.00, in support of the establishment of such a petty change fund:

(1) The establishing warrant and such successive warrants as shall be necessary to resupply the fund shall be drawn in favor of the public works director who shall convert the warrant to cash;

(2) The public works director shall account for it in the same manner as is required of other funds of the town;

(D) The entire petty cash fund authorized and established pursuant to this section shall be returned to the corporation general fund or proper fund of origin whenever there is a change in the custodian of the fund or whenever the purposes of the fund have substantially changed or the fund is no longer needed. [Ord. 1214 § 7, 2003. Code 2000 § 31.06].

3.45.080 Public works cash change fund.

(A) There is hereby authorized, created and established a cash change fund for use in the public works department to be known as the public works cash change fund, pursuant to the provisions of IC 36-1-8 et seq.;

(B) The public works director and such employees as he may designate are permitted to collect cash revenues at the public works facility offices of the public works department, in order to support the duties outlined in and to carry out the purposes of the public works department:

(1) The public works director is permitted to establish a cash change fund in support of this section;

(2) Such a fund must be established by a warrant drawn upon the appropriate fund in favor of the public works director, who is the custodian of the fund;

(C) The fund shall be established by a warrant drawn from the proper appropriated or nonappropriated balance of the corporation general or such other fund, as the town council may direct, in the amount of $50.00, in support of the establishment of such a cash change fund:

(1) The establishing warrant and such successive warrants as shall be necessary to resupply the fund shall be drawn in favor of the public works director who shall convert the warrant to cash;

(2) The public works director and such employees as he may designate shall use it to make change when collecting rates and charges for programs or services performed under the authority of law by the public works department; and

(3) The public works director shall account for it in the same manner as is required of other funds of the town;

(D) The entire cash change fund authorized and established pursuant to this section shall be returned to the corporation general fund or its fund of origin whenever there is a change in the custodian of the fund;

(E) The entire cash change fund authorized and established pursuant to this section shall be returned to the corporation general fund or its fund of origin of the municipality whenever the purposes of the fund have substantially changed or the fund is no longer needed. [Ord. 1393 § 2, 2008. Code 2000 § 31.07].

3.45.090 Innkeeper tax fund.

(A) There is hereby created and established the innkeeper tax fund, a special nonreverting fund established for the purposes of supporting economic development projects and economic development under the jurisdiction of the town of Highland.

(B) Expenditures from this fund may only be for the purposes for which this fund was established as set forth in IC 6-9-2-2(d)(4).

(1) Expenditures from this fund may only be upon appropriation of the fiscal body of the town of Highland;

(2) Expenditures from this fund may only be for the purposes of economic development and in support of economic development projects. Economic development projects shall include the following provisions as set forth in IC 36-7-22-3 et seq.:

(a) Planning or managing development or improvement activities;

(b) Designing, landscaping, beautifying, constructing, or maintaining public areas or public ways (including designing, constructing, or maintaining lighting for a public area or public way);

(d) Supporting business recruitment and development;

(e) Providing security for public areas; or

(f) Acquiring, constructing or maintaining parking facilities;

(g) Promoting or fostering economic development and tourism, consistent with those powers conferred under IC 36-7-2-7, which may include encouragement of trade shows, visitors, conferences or other special events in the municipality or in the county in which the municipality exists or contracting with another entity in pursuit of these objectives.

(1) The local periodic distribution of innkeeper tax revenue described in IC 6-9-2-2(d)(4);

(2) Interest earned from the investment of moneys on deposit to the credit of the fund, provided such investments are conducted pursuant to IC 5-13-9 et seq.;

(3) Gifts, donations and other voluntary contributions from any person to the fund consistent with the lawful purposes and objects of the fund; and

(4) Money derived from state or federal reimbursement grants, matching funds, or contributions for such projects as may be consistent with the objects of IC 6-9-2 and 36-7 et seq., including but not limited to multi-party or intergovernmental undertakings.

(D) Expenditures from the fund may be made from the proper category of expense and for the purposes of the fund only after an appropriation has been made in the manner provided by statute for making other appropriations and shall be disbursed only on approved accounts payable vouchers allowed by the town council or a board or commission specifically granted jurisdiction by town council resolution to make such expenditures. Allowances must only be made at a regular or special meeting of the town council or a board or commission specifically granted jurisdiction by town council resolution to make such allowances, pursuant to IC 5-11-10 and 36-5-4 et seq.

(E) The fund appropriations shall be further governed as follows:

(1) All unused and unencumbered monies do not revert to the corporation general fund nor to any fund but the fund created by this chapter;

(2) The unused and unencumbered balance of an appropriation shall not lapse at the end of the year in which the appropriation was made, nor does it revert, but remains in full force and effect to the credit of the fund created by this chapter without reappropriation until the purpose for which the appropriation was made has been accomplished or abandoned. [Ord. 1071, 1997; Ord. 1214 § 9, 2003. Code 2000 § 31.08].

3.45.100 Gaming revenue sharing fund.

(A) There is hereby created and established the gaming revenue sharing fund, a special nonreverting capital fund established for the purposes of acquiring land or making specific capital improvements to facilities and plant under the jurisdiction of the town of Highland.

(B) Expenditures from this fund may only be for the purposes for which this fund was established as set forth in IC 4-33-12.5-8.

(1) Expenditures from this fund may only be upon appropriation of the fiscal body of the town of Highland;

(2) Expenditures from this fund may only be for the purposes of making infrastructure improvements. Infrastructure improvements shall include the following provisions as set forth in IC 4-33-12.5 et seq.:

(a) Construction, reconstruction, repair, maintenance, oiling, sprinkling, snow removal, weed and tree cutting and cleaning of their highways as herein defined, and including also any curbs;

(b) Share of the cost of the separation of the grades of crossing of public highways and railroads;

(c) Engineering, land acquisition, construction, resurfacing, maintenance, restoration, or rehabilitation of both local and arterial road and street systems;

(d) The payment of principal and interest on bonds sold primarily to finance road, street, or thoroughfare projects;

(e) Any local costs required to undertake a recreational or reservoir road project under IC 8-23-5; or

(f) The term “highways” includes roadways, rights-of-way, bridges, drainage structures, signs, guard rails, protective structures in connection with highways, drains, culverts and bridges and the substructure and superstructure of bridges and approaches thereto and streets and alleys of cities and towns. (IC 8-14-1-1(3));

(g) Construction, equipment remodeling, extension, repair and betterment of structures including the following:

1. Sanitary sewers and sanitary sewer tap-ins.

2. Sidewalks.

3. Curbs.

4. Streets.

5. Alleys.

6. Pedestrian-ways or malls set aside entirely or partly, or during restricted hours, for pedestrian rather than vehicular traffic.

7. Other paved public places.

8. Parking facilities.

9. Lighting.

10. Electric signals.

11. Landscaping, including trees, shrubbery, flowers, grass, fountains, benches, statues, floodlighting, gaslighting, and structures of a decorative, educational, or historical nature; and

(h) “Sewage works” means:

1. Sewage treatment plants;

2. Intercepting sewers;

3. Main sewers;

4. Submain sewers;

5. Local sewers;

6. Lateral sewers;

7. Outfall sewers;

8. Storm sewers;

9. Force mains;

10. Pumping stations;

11. Ejector stations;

12. Any other structures necessary or useful for the collection, treatment, purification, and sanitary disposal of the liquid waste, solid waste, sewage, storm drainage, and other drainage of a municipality.

(1) The local periodic distribution of revenue described and authorized in IC 4-33-12.5, sections 6 and 7;

(2) Interest earned from the investment of moneys on deposit to the credit of the fund, provided such investments are conducted pursuant to IC 5-13-9 et seq.;

(3) Gifts, donations and other voluntary contributions from any person to the fund consistent with the lawful purposes and objects of the fund; and

(4) Money derived from state or federal reimbursement grants, matching funds, or contributions for such projects as may be consistent with the objects of IC 8-14-1 and 36-9-1, including but not limited to multi-party or intergovernmental undertakings.

(D) Expenditures from the fund may be made from the proper category of expense and for the purposes of the fund, only after an appropriation has been made in the manner provided by statute for making other appropriations and shall be disbursed only on approved accounts payable vouchers allowed by the town council or a board or commission specifically granted jurisdiction by town council resolution to make such expenditures. Allowances must only be made at a regular or special meeting of the town council or a board or commission specifically granted jurisdiction by town council resolution to make such allowances, pursuant to IC 5-11-10 and 36-5-4 et seq.

(E) The fund appropriations shall be further governed as follows:

(1) All unused and unencumbered monies do not revert to the corporation general fund nor to any fund but the fund created by this chapter;

3.45.110 Information and communications technology fund.

(A) There is hereby established a fund of the municipality to be known as the “information and communications technology fund.”

(B) The information and communications technology fund shall be deemed to be and operate as an internal service fund for services provided on a regular basis by one department to other departments of the organization for which interdepartmental charges are made. The fund shall account and report revenues and expenses of a new information technology department.

(C) Expenditures from this fund shall be pursuant to and in support of the purposes set forth in subsection (D) of this section according to laws of the state of Indiana. The establishment or the purposes of this fund shall not be in derogation of the lawful purposes or construed to exclude the lawful purposes of expenditure from such other funds for the same or similar purposes.

(D) Expenditures from the fund may be made for the following lawful public purposes:

(1) Payroll and associated personnel costs associated with the delivery, management, operation, maintenance, repair or support of information or communication technology for the town and its executive departments;

(2) Information or communication technology professional services associated with the delivery, management, operation, maintenance, repair or support of information or communication technology for the town and its executive departments;

(3) The purchase and acquisition of information or communication technology commodities, licenses, and equipment as well as information or communication technology services to help other departments and public agencies carry out their functions. Such commodities or equipment includes but is not limited to the expense for computers and related equipment, computer software applications, printers, copiers, scanners, fax machines, check printer, postage meter and telephone and related communications systems.

(E) Expenditures from the fund shall be made upon appropriation pursuant to the provisions of IC 6-1.1-18 and 36-5-4-2 and may be disbursed on approved claims allowed by the town council pursuant to IC 5-11-10 and 36-5-4 and may be made as advance expenses according to terms of IC 36-5-4-12(b)(13).

(F) The sources of revenue for this fund may consist of the following:

(1) Interdepartmental charges, contributions, cost shares or assessments levied against funds or departments of the municipality to support the lawful purposes and budget of the information and communication technology fund:

(a) The charges and rates shall be developed and recommended by the proper officers of the municipality and fixed and approved by the town council;

(b) Any and all rates and charges shall be consistent with IC 36-1-3-8(a)(6) and may be calculated to include reasonable costs associated with those purposes outlined in subsection (D) of this section as well as for replacement of equipment;

(2) Transfers from the corporation general or the municipal cumulative capital fund authorized by the town council from appropriations adopted for that purpose;

(3) Gifts or grants from the federal government, the state, or any political subdivision of the state.

(G) Pursuant to IC 5-13-9 and Chapter 3.40 HMC, moneys in the fund may be invested; provided, that the yields from the purchase and sale of any such investments be deposited with the fund.

(H) The fund created herein is a continuing fund, and will remain in full force and effect until such time as the town council adopts an ordinance repealing this fund and directing then the disposition of any assets held by the fund. In addition, the unused and unencumbered cash on deposit to the credit of the fund does not revert at the end of the fiscal year to any fund from which the revenues were derived, but remain with the fund created by this section.

(I) The clerk-treasurer, as the municipal fiscal officer, is hereby directed and authorized to perform such duties and keep such accounts as necessary to fulfill the purposes of this fund and to carry out the provisions of this section. [Ord. 1323 § 1, 2006. Code 2000 § 31.08].

3.45.120 Special Highway of Flags maintenance and repair fund.

(A) There is hereby authorized, created and established a special revenue fund, to be called special Highway of Flags maintenance and repair fund for use by the town of Highland, and its relevant executive departments, to carry out the purposes of this section;

(B) The fund is dedicated and established to provide resources for the maintenance and repair of the Highway of Flags Veterans Memorial Monument, located at the southeast corner of Ridge Road and Indianapolis Boulevard;

(1) Expenditures from this fund shall for the purposes and in support of the purposes set forth in this section and according to the laws and relevant guidelines governing the disposition of the assets which comprise the fund, provided the expenditures shall be for the maintenance and repair of the Highway of Flags Monument, its nearby physical plant and grounds;

(2) Expenditures from this fund shall at no time include costs associated with the direct costs of wages or salaries of any officer or employee of the town of Highland;

(3) The fiscal body shall have the authority to set aside or identify by proper legislative instrument that some or all of the fund’s cash resources be held as designated reserve or otherwise restricted from being expended except as to permit its investment by the municipal fiscal officer, with such investment yields being available for expenditure according to the lawful purposes of this code;

(4) Neither the establishment nor the purposes of this fund shall be in derogation of the lawful purposes or construed to exclude the lawful purpose or expenditure from such other funds of the municipality for the same or similar purposes;

(5) Expenditures from the fund may be made only upon appropriation by the fiscal body for the purpose for which the fund is specifically established, in the manner provided by statute for making other appropriations, and shall be disbursed only on approved accounts payable vouchers allowed by the legislative body, all pursuant to IC 5-11-10 and 36-5-4;

(D) The sources of money for the fund are the following:

(1) Gifts and donations from any person or entity given expressly for the purposes and objects of the fund, unless otherwise directed by action of the legislative body;

(2) User fees and other charges which may be from time to time authorized and fixed by the legislative body in connection with the use of the grounds;

(3) An original donation from the council for the encouragement of patriotism, first conveyed when the municipality received the monument, held thereafter in what was believed to be an unexpendable trust, later determined to be an agency fund, together with interest earnings from investment;

(4) Pursuant to IC 5-13-9 moneys in the fund may be invested; provided, that the yields from the purchase and sale of any such investments be deposited with the fund;

(E) All unused and unencumbered monies do not revert to the corporation general fund nor to any fund but shall remain with the Highway of Flags maintenance and repair fund until such time as an ordinance is passed dealing with the disposition of the assets of this fund;

(F) The unused and unencumbered balance of an appropriation shall not lapse at the end of the year in which the appropriation was made, nor does it revert, but remains in full force and effect to the credit of the fund created by this chapter without reappropriation until the purpose for which the appropriation was made has been accomplished or abandoned;

(G) The clerk-treasurer, as municipal fiscal officer, is hereby directed and authorized to perform such duties and keep such accounts as to fulfill the purpose of the funds herein named and to carry out the provisions of this chapter. [Ord. 1272 § 1, 2005. Code 2000 § 31.12].

3.45.121 Local underground storage tanks trust fund. Revised 12/21

(A) There is hereby authorized, created and established a dedicated (trust) fund, to be called the local underground storage tanks trust fund, for use by the town of Highland, and its relevant executive departments, to carry out the purposes of this section;

(B) The fund is dedicated and established to possess such resources in order to fund for part, but not all, of the amount of the required coverage as set forth under Section 4 of 329 IAC 9-8, and to be used in combination with another mechanism that provides the remaining coverage in order to pay for corrective action and for compensating third parties for bodily injury and property damage caused by accidental releases arising from the operation of such petroleum holding underground storage tanks, all pursuant to 329 IAC 9-8-7(a)(1)(C)(ii);

(1) The fund shall be established as an expendable trust fund, and expenditures from this fund shall be solely for the purposes and in support of the purposes set forth in this section and according to the laws and relevant guidelines governing the disposition of the assets which comprise the fund, provided the expenditures shall be used to cover the deductibles related to accessing an amount available for payment from the underground petroleum storage tank excess liability fund for an eligible release discovered on or after July 1, 2016, covering the payment of a deductible amount of $15,000 and the sum of any unpaid annual registration fees that were due in 2014 or a later year;

(2) Expenditures from this fund shall be used in connection with other lawful mechanisms, including but not limited to the state of Indiana underground petroleum storage tank excess liability fund providing the remaining coverage in order to pay for corrective action and for compensating third parties for bodily injury and property damage caused by accidental releases arising from the operation of such petroleum holding underground storage tanks;

(3) Some or all of the fund’s cash resources be held as designated trust or otherwise restricted from being expended except as to permit its investment by the municipal fiscal officer, with such investment yields being available for expenditure according to the lawful purposes of this code;

(5) Expenditures from the fund may be made only upon appropriation by the fiscal body for the purpose for which the fund is specifically established, in the manner provided by statute for making other appropriations and shall be disbursed only on approved accounts payable vouchers allowed by the legislative body, all pursuant to IC 5-11-10 and IC 36-5-4;

(D) The sources of money for the fund are the following:

(1) Gifts, and donations from any person or entity given expressly for the purposes and objects of the fund, unless otherwise directed by action of the legislative body;

(2) An original contribution or transfer authorized by the town council to be made from such unreserved, undesignated cash balances on deposit to the credit of the municipal general fund;

(3) Any investments of fund resources shall assure that the yields from the purchase and sale of any such investments be deposited with the fund;

(E) All unused and unencumbered monies do not revert to the corporation general fund nor to any fund but shall remain with the local underground storage tanks trust fund until such time as an ordinance is passed dealing with the disposition of the assets of this fund;

(F) The unused and unencumbered balance of an appropriation shall not lapse at the end of the year in which the appropriation was made nor does it revert, but remains in full force and effect to the credit of the fund created by this section without reappropriation until the purpose for which the appropriation was made has been accomplished or abandoned;

(G) The clerk-treasurer, as municipal fiscal officer, is hereby directed and authorized to perform such duties and keep such accounts as to fulfill the purpose of the fund herein named and to carry out the provisions of this section. [Ord. 1759 § 1, 2021].

3.45.123 Public safety income tax fund.¹

(A) There is hereby authorized, created and established the public safety income tax fund, pursuant to the provisions of IC 6-3.5-1.1-25 et seq. before its repeal and IC 6-3.6;

(B) The fund is dedicated and established to provide resources for public safety purposes as provided in IC 6-3.5-1.1-25(f) before its repeal and IC 6-3.6-2-14 and as set forth in this code;

(C) Purposes, Uses, and Permissible Expenditures. Expenditures from this fund shall be governed by the following provisions:

(1) That expenditures from this fund shall be for the purposes, uses and in support of the purposes or uses permissible for the resources of this fund as described in IC 6-3.5-1.1-25 et seq. before its repeal and IC 6-3.6-2-14 as may be amended from time to time;

(2) That the expenditures from this fund are to be used solely for public safety purposes, which are hereby further authorized and described, pursuant to IC 6-3.5-1.1-25(a) before its repeal and IC 6-3.6-2-14:

(a) Expenditures may be used to support or provide a police and law enforcement system to preserve peace and order;

(b) Expenditures may be used to support or provide a firefighting and fire prevention system;

(d) Expenditures may be used to support or provide emergency action taken at or near the scene of hazardous materials emergency to prevent or minimize harm to human health, property, or the environment as defined in IC 13-11-2-65;

(e) Expenditures may be used to support or provide a communications system as defined in IC 36-8-15-3, or an enhanced emergency telephone system as defined in IC 36-8-16-2 before its repeal on July 1, 2012;

(f) Expenditures may be used to support or provide pension payments for a member of the police department as defined in IC 36-8-1-9 or any other employee hired by the police department;

(g) Expenditures may be used to support or provide pension payments for a member of the fire department as defined in IC 36-8-1-8 or any other employee of the fire department;

(h) Expenditures may be used to support or provide pension payments for other personnel employed to provide a service described in this section;

(i) Expenditures may be used to support or provide for the foregoing purposes as operational or capital costs;

(D) The sources of funding for the public safety income tax fund may include the following:

(1) The certified distributions transferred from the Lake County Auditor pursuant to and identified in IC 6-3.5-1.1-25 prior to its repeal and IC 6-3.6-6, sections 4 and 8.

(2) Interest earned from the investment of moneys on deposit to the credit of the fund, provided such investments are conducted pursuant to IC 5-13-9 et seq., and subsection (F) of this section;

(E) Expenditure upon Appropriations. Expenditures from the fund may be made only upon appropriation by the fiscal body for the purpose for which the fund is specifically established, in the manner provided by statute for making other appropriations, and shall be disbursed only on approved accounts payable vouchers allowed by the legislative body, all pursuant to IC 5-11-10 and 36-5-4;

(G) Preservation and Disposition of Fund Assets. All unused and unencumbered cash on deposit to the credit of the public safety income tax fund does not revert to the corporation general fund nor to any other fund but shall remain with the public safety income tax fund until such time as an ordinance is passed which rescinds the income tax levy for this fund, and the town council authorizes a transfer of any remaining unexpended, unencumbered assets of the fund, all subject to IC 6-3.5-1.1 et seq. and 36-1-8-5. [Ord. 1550 § 1, 2014; Ord. 1660 § 5, 2017].

3.45.125 American rescue plan grant fund.² Revised 4/21

(A) Establishment. There is hereby authorized, created and established a fund of the town of Highland, to be called the American rescue plan grant fund, pursuant to IC 36-1-3 et seq. and 36-1-8-12;

(1) The American rescue plan grant fund is dedicated and established for accumulating, for accounting and to provide resources to support lawful purposes of the municipality, and such specific purposes as are consistent with legal uses set forth in Section 603 of the Social Security Act, as added by Section 9901 of the American Rescue Plan Act of 2021;

(2) The sources of funding for the American rescue plan grant fund include the following:

(a) Proceeds, resources or payments received in consequence of distributions made under Section 603 of the Social Security Act, as added by Section 9901 of the American Rescue Plan Act of 2021;

(b) Interest earned from the investment of moneys on deposit to the credit of the fund, provided such investments are conducted pursuant to IC 5-13-9 et seq.;

(d) Appropriations by the town council;

(3) The American rescue plan grant fund is established and remains in effect until such time as the fund is repealed or rescinded by action of the town council;

(B) Purposes, Uses and Permissible Expenditures. Expenditures from the American rescue plan grant fund shall be used exclusively for the following purposes:

(1) To pay expenses authorized under Section 603 of the Social Security Act, as added by Section 9901 of the American Rescue Plan Act of 2021 and such guidance as may be issued by the Treasury Secretary of the United States;

(2) To make expenditures for the lawful provision of government services to the extent of the reduction in revenue of the town of Highland due to the COVID-19 public health emergency relative to revenues collected in the most recent full fiscal year of the town, with FY 2019 serving as the base year;

(3) To make necessary investments in water, sewer or broadband infrastructure, as authorized under the relevant law;

(4) To pay any costs required to carry out and support the objectives of the American Rescue Plan of 2021, as set forth in Section 603(c)(1);

(C) Appropriations Required. Expenditures from the American rescue plan grant fund may be made only upon appropriation by the fiscal body for the purpose for which the fund is specifically established, in the manner provided by statute for making other appropriations and shall be disbursed only on approved accounts payable vouchers allowed by the legislative body, all pursuant to IC 5-11-10 and 36-5-4.

(D) Investments Authorized. Money in the American rescue plan grant fund may be invested; provided, that the yields from the purchase and sale of any such investments shall be deposited with the fund pursuant to IC 5-13-9 and Chapter 3.40 HMC.

(E) Proscribed Actions. All disbursements related to any revenue replacement and all other expenditures must be appropriated and expended directly from the American rescue plan grant fund and cannot be transferred to the fund that experienced the revenue reduction owing to due to the COVID-19 public health emergency, or to any other fund of the town. [Ord. 1728 § 1, 2021].

3.45.127 Economic development local income tax fund.³

(A) There is hereby authorized, created and established the economic development income tax fund, pursuant to the provisions of IC 6-3.5-7 et seq.;

(B) The fund is dedicated and established to provide resources for purposes as provided in IC 6-3.5-7 before its repeal and IC 6-3.6 and as set forth in this code;

(C) Purposes, Uses, and Permissible Expenditures. Expenditures from this fund shall be governed by the following provisions:

(1) That expenditures from this fund shall be for the purposes, uses and in support of the purposes or uses permissible for the funds as described in IC 6-3.5-7 et seq. before its repeal, IC 6-3.6-2-8, IC 6-3.6-6 et seq., and IC 6-3.6-10 et seq. as may be amended from time to time;

(2) That the expenditures from this fund are to be used solely for purposes described herein, which are further authorized and described in a capital improvement plan adopted by the town council president as municipal executive, specifying uses of the resources of this fund, pursuant to IC 6-3.5-7-15 before its repeal and IC 6-3.6-6-9.5;

(a) The town council president, as municipal executive, may adopt a capital improvement plan specifying the uses of the revenues received under IC 6-3.5-7 before its repeal, IC 6-3.6 and according to this section; or

(b) The town council president, as municipal executive, may designate the county or a municipality in the county as a recipient of all or part of the town’s share of the distribution;

(D) The resources of this fund may be used according to the specifications set forth in the capital improvement plan adopted and filed by the town council president as municipal executive, and may include any of the following:

(1) Expenditures may be used for economic development projects, for paying, notwithstanding any other law, under a written agreement all or a part of the interest owed by a private developer or a user on a loan extended by a financial institution or other lender to the developer or user if the proceeds of the loan are to finance an economic development project;

(2) Expenditures may be used for the retirement of bonds to support economic development projects, pursuant to IC 6-3.5-7-14 prior to its repeal, IC 6-3.6-6-5 and IC 6-3.6-10-3 or for lease payments undertaken pursuant to IC 6-3.5-7-21 prior to its repeal and IC 6-3.6-10-4, including any leases or bonds entered into prior to the establishment of this fund; provided, that they would have qualified as a purpose authorized by this section and IC 36-3.5-7 prior to its repeal, IC 6-3.6-2-8, IC 6-3.6-6 et seq., and IC 6-3.6-10 et seq. and at the time of their inception;

(3) Expenditures may be used for the construction or acquisition of a capital project for which the town is otherwise empowered to issue general obligation bonds or for which it may establish a fund under any statute listed in IC 6-1.1-18.5-9.8. This may include undertaking a remedial action with respect to a capital project;

(4) Expenditures may be used for the payment of lease rentals under any statute for a capital project;

(5) Expenditures may be used for contract payments to a nonprofit corporation whose primary corporate purpose is to assist government in planning and implementing economic development projects;

(6) Expenditures may be used for operating expenses of a governmental entity that plans or implements economic development projects;

(7) Expenditures may be used for funding substance removal or remedial action in a designated unit, to the extent not otherwise provided by IC 6-3.5-7 et seq. prior to its repeal, IC 6-3.6-2-8, IC 6-3.6-6 et seq., and IC 6-3.6-10 et seq.;

(8) Expenditures may be used for funding an economic development revolving fund under IC 5-1-14-14;

(9) Expenditures may be used for the provision of homestead credits, provided the fiscal body adopts an authorizing ordinance pursuant to IC 6-3.5-7-13.1(b)(6) prior to its repeal and IC 6-3.6-11-6(b);

(10) Expenditures may be used to establish a regional venture capital fund under IC 6-3.5-7-13.5 prior to its repeal and IC 6-3.6-10-7 and a local venture capital fund under IC 6-3.5-7-13.6 prior to its repeal and IC 6-3.6-10-8;

(11) Expenditures may be used for any lawful purpose for which money in any other funds of the town may be used;

(E) For the purposes of this section, “economic development project” is defined as any project that the town determines:

(1) Will promote significant opportunities for the gainful employment of the town’s citizens;

(2) Will attract a major new business enterprise to the town; or

(3) Will retain or expand significant business enterprise within the town and involves an expenditure for:

(a) The acquisition of land;

(b) Interests in land;

(d) Infrastructure improvements;

(e) Buildings;

(f) Structures;

(g) Rehabilitation, renovation, and enlargement of buildings and structures;

(h) Machinery;

(i) Equipment;

(j) Furnishings;

(k) Facilities;

(l) Administrative expenses associated with such a project, including contract payments described in subsection (D)(5) of this section or IC 6-3.5-7-13.1(b)(2)(D) prior to its repeal and IC 6-3.6-2-8;

(m) Operating expenses authorized under subsection (D)(6) of this section or IC 6-3.5-7-13.1(b)(2)(E) prior to its repeal and IC 6-3.6-10-2(4);

(n) Expenses authorized under and described in subsections (D)(2) and (7) of this section;

(F) The sources of funding for the economic development income tax fund may include the following:

(1) The certified distributions transferred from the Lake County Auditor pursuant to and identified in IC 6-3.5-7-12 prior to its repeal and IC 6-3.6-9-16;

(2) Interest earned from the investment of moneys on deposit to the credit of the fund, provided such investments are conducted pursuant to IC 5-13-9 et seq. and subsection (H) of this section;

(G) Expenditure upon Appropriations. Expenditures from the fund may be made only upon appropriation by the fiscal body for the purpose for which the fund is specifically established, in the manner provided by statute for making other appropriations, and shall be disbursed only on approved accounts payable vouchers allowed by the legislative body, all pursuant to IC 5-11-10 and 36-5-4;

(H) Investments Authorized. Pursuant to IC 5-13-9, and Chapter 3.40 HMC, moneys in the fund may be invested; provided, that the yields from the purchase and sale of any such investments be deposited with the fund;

(I) Preservation and Disposition of Fund Assets. All unused and unencumbered cash on deposit to the credit of the economic development income tax fund does not revert to the corporation general fund nor to any other fund but shall remain with the economic development income tax fund until such time as an ordinance is passed which rescinds the income tax levy for this fund, and the town council or the town council president authorizes a transfer of any remaining unexpended, unencumbered assets of the fund, all subject to IC 6-3.5-7 et seq. and 36-1-8-5. [Ord. 1550 § 2, 2014; Ord. 1660 §§ 6, 7, 2017].

3.45.128 LOIT special distribution fund.⁴

(A) Establishment. There is hereby authorized, created and established a fund of the town of Highland, to be called the LOIT special distribution fund, pursuant to Section 3 of Public Law 126-2016, codified as IC 6-3.6-9-17.

(1) The LOIT special distribution fund is dedicated and established for accumulating funds to provide resources to support lawful purposes of the municipality, and such specific purposes as are identified in this section.

(2) The sources of funding for the LOIT special distribution fund include the following:

(a) Seventy-five percent of the particular one-time distribution remitted to the town of Highland, pursuant to provisions set forth in Section 3 of Public Law 126-2016, codified as IC 6-3.6-9-17(h)(1);

(b) Interest earned from the investment of moneys on deposit to the credit of the fund, provided such investments are conducted pursuant to IC 5-13-9 et seq.

(3) The LOIT special distribution fund is established and remains in effect until such time as all the cash on deposit to the fund is expended or until the fund is repealed or rescinded by action of the town council, whichever comes first.

(B) Purposes, Uses and Permissible Expenditures. Expenditures from the LOIT special distribution fund shall be used exclusively for the following purposes:

(1) To pay for engineering, land acquisition, construction, resurfacing, maintenance, restoration, or rehabilitation of both local and arterial road and street systems;

(2) To pay the principal and interest on bonds sold primarily to finance road, street, or thoroughfare projects;

(3) To pay any local costs required to undertake a recreational or reservoir road project under IC 8-23-5;

(4) To support the purchase, rental of, or repair of highway equipment;

(5) To purchase equipment, motor vehicles, special purpose vehicles, and accessories for such vehicles that are used for public safety purposes;

(6) For providing a match for a grant from the local road and bridge matching grant fund, under IC 8-23-30;

(C) Appropriations Required. Expenditures from the LOIT special distribution fund may be made only upon appropriation by the fiscal body for the purpose for which the fund is specifically established, in the manner provided by statute for making other appropriations and shall be disbursed only on approved accounts payable vouchers allowed by the legislative body, all pursuant to IC 5-11-10 and IC 36-5-4.

(D) Investments Authorized. Money in the LOIT special distribution fund may be invested; provided, that the yields from the purchase and sale of any such investments shall be deposited with the fund pursuant to IC 5-13-9 and Chapter 3.40 HMC.

(E) Preservation and Disposition of Fund Assets. All unused and unencumbered cash on deposit to the credit of the LOIT special distribution fund does not revert to the corporation general fund or to any other fund but shall remain with the LOIT special distribution fund until such time as all the cash on deposit to the fund is expended.

(F) Unless otherwise provided by law, if all cash on deposit to the fund is expended, the municipal fiscal officer shall be authorized to retire, abolish and defease the fund, following completion of the required audit by the State Board of Accounts. [Ord. 1624 § 1, 2016; Ord. 1642 § 1, 2016].

3.45.129 Community crossings grant fund.

(A) Establishment. There is hereby authorized, created and established a fund of the town of Highland, to be called the community crossings grant fund, pursuant to IC 36-1-8-12 and 36-1-3 et seq.;

(1) The community crossings grant fund is dedicated and established for accumulating, accounting for and to provide resources to support lawful purposes of the municipality, and such specific purposes as are consistent with the municipal transportation asset management plan that has been approved by the Indiana Department of Transportation and the objectives of the local road and bridge matching grant fund, pursuant to IC 8-23-30;

(2) The community crossings grant fund shall be considered a special fund for the purposes of IC 36-1-8-12;

(3) The sources of funding for the community crossings grant fund includes the following:

(a) Money transferred into and deposited in the fund created by this section from the LOIT special distribution fund, established in HMC 3.45.128, the municipal rainy day fund established in Article III of this chapter, and such other local matching resources lawful for application to a particular project;

(b) Interest earned from the investment of moneys on deposit to the credit of the fund, provided such investments are conducted pursuant to IC 5-13-9 et seq.;

(c) Money derived from state matching or reimbursement grants, particularly those from the local road and bridge matching grant fund authorized in IC 7-23-30, other matching funds lawful according to the terms of such grants, or contributions for such projects as may be consistent with the objects and purposes of this fund;

(d) Such other financial resources as the Indiana General Assembly may authorize from time to time; and

(e) Appropriations by the town council;

(4) The community crossings grant fund is established and remains in effect until such time as the fund is repealed or rescinded by action of the town council;

(B) Purposes, Uses and Permissible Expenditures. Expenditures from the community crossings grant fund shall be used exclusively for the following purposes:

(1) To pay for engineering, land acquisition, construction, resurfacing, maintenance, restoration, or rehabilitation of both local and arterial road and street systems;

(2) To pay the principal and interest on bonds sold primarily to finance road, street, or thoroughfare projects;

(3) To pay any costs required to carry out and support the objectives of the municipal transportation asset plan provided such plan is approved by the Indiana Department of Transportation;

(4) To pay for the costs of special projects that meet the previous purposes and are identified in and funded by a matching grant issued from the local road and bridge matching grant fund under IC 8-23-30;

(C) Appropriations Required. Expenditures from the community crossings grant fund may be made only upon appropriation by the fiscal body for the purpose for which the fund is specifically established, in the manner provided by statute for making other appropriations and shall be disbursed only on approved accounts payable vouchers allowed by the legislative body, all pursuant to IC 5-11-10 and 36-5-4.

(D) Investments Authorized. Money in the community crossings grant fund may be invested provided that the yields from the purchase and sale of any such investments shall be deposited with the fund pursuant to IC 5-13-9 and Chapter 3.40 HMC.

(E) Preservation and Disposition of Fund Assets. If there is unused and unencumbered cash on deposit to the credit of the community crossings grant fund, after completion of a funded project:

(1) The town council shall cause the transfer of the state of Indiana’s share of the remaining unused and unencumbered cash to the treasurer of state for deposit in the local road and bridge matching grant fund; and

(2) The town council shall cause the transfer of its pro rata share of the remaining unused and unencumbered cash to the corporation general fund. [Ord. 1642 § 2, 2016].

Article II. Municipal Cumulative Capital Development Fund

3.45.130 Municipal cumulative capital development fund established and tax rate fixed.

(A) There is hereby authorized, created and established a fund of the town of Highland, to be called the municipal cumulative capital development fund, pursuant to IC 36-9-15.5 et seq.;

(B) The fund is dedicated and established to provide resources for the purposes permitted by IC 36-9-15.5 as may be amended from time to time and as set forth in this code;

(C) An ad valorem property tax levy will be imposed and the revenues from the levy will be retained and deposited in the town of Highland cumulative capital development fund;

(D) As this municipality is in a county with an adopted county option income tax, the maximum rate of the levy herein described will not exceed 0.0500 per $100.00 assessed valuation for 2016 pay 2017 and will remain in effect each year thereafter until such time as the fund may be rescinded or the rate reduced by action of the town council;

(E) The town of Highland municipal cumulative capital development fund is established until such time as the fund is repealed or rescinded by action of the legislative body. [Ord. 1614 § 2, 2016].

3.45.140 Purposes, uses and permissible expenditures from the municipal cumulative capital development fund.

(A) Expenditures from this fund shall be for the purposes, uses and in support of the purposes or uses permissible for the funds as described and set forth in this code as may be amended from time to time;

(B) Any and all of the lawful public purposes and/or uses associated with the funds authorized and described in the following provisions of the Indiana Code are hereby authorized and adopted as permissible purposes of this municipal cumulative capital development fund:

(1) For capital improvements, uses and purposes as described in IC 8-16-3 as amended from time to time;

(2) For capital improvements, uses and purposes as described in IC 8-22-3-25 as amended from time to time;

(3) For capital improvements, uses and purposes as described in IC 14-27-6-48 as amended from time to time;

(4) For capital improvements, uses and purposes as described in IC 14-33-14 as amended from time to time;

(5) For capital improvements, uses and purposes as described in IC 16-23-1-40 as amended from time to time;

(6) For capital improvements, public safety equipment acquisition, uses and purposes as described in IC 36-8-14 as amended from time to time;

(7) For capital improvements, transportation planning, vehicle/equipment acquisition, uses and purposes as described in IC 36-9-4-48, as amended from time to time;

(8) For capital improvements, land and public building acquisition, public way maintenance and improvements, other lawful governmental purposes and all uses and purposes as described in IC 36-9-16-2 as amended from time to time;

(9) For capital improvements, computer soft/hardware expenses, communications expenses, other lawful governmental purposes, as described in IC 36-9-16-3 as amended from time to time;

(10) For improvements of public ways and sidewalks, uses and purposes as described in IC 36-9-16.5-2 as amended from time to time;

(11) For improvements of public ways, sidewalks, gutters, sewers, uses and purposes as described in IC 36-9-17 as amended from time to time;

(12) For improvements of sewage disposal or treatment plants, sewers, uses and purposes as described in IC 36-9-26 as amended from time to time;

(13) For capital improvements related to drainage, sewers, uses and purposes as described in IC 36-9-27-100 as amended from time to time;

(14) For capital improvements to parks, uses and purposes as described in IC 36-10-3-21, as amended from time to time;

(15) For capital improvements to parks, uses and purposes as described in IC 36-10-4-36 as amended from time to time;

(C) Money held in the cumulative capital development fund may be spent for purposes other than the purposes stated in subsections (A) and (B) of this section, if the purpose is to protect the public health, welfare, or safety in an emergency situation that demands immediate action or to make a contribution to an authority established under IC 36-7-23.

(1) Money may be spent under the authority of subsection (C) of this section only after the executive of the municipality issues a declaration that the public health, welfare, or safety is in immediate danger that requires the expenditure of money in the fund; or

(2) Money may be spent under the authority of subsection (C) of this section after the executive of the municipality certifies in the minutes of the municipal legislative body that the contribution is made to the authority for capital development purposes. [Ord. 1614 § 2, 2016].

3.45.150 Expenditure upon appropriation.

Expenditures from the fund may be made only upon appropriation by the fiscal body for the purpose for which the fund is specifically established, in the manner provided by statute for making other appropriations and shall be disbursed only on approved accounts payable vouchers allowed by the legislative body, all pursuant to IC 5-11-10 and 36-5-4. [Ord. 1614 § 2, 2016].

3.45.160 Investments authorized.

Pursuant to IC 5-13-9, and Chapter 3.40 HMC, moneys in the fund may be invested; provided, that the yields from the purchase and sale of any such investments be deposited to the credit of the fund. [Ord. 1614 § 2, 2016].

3.45.170 Preservation and disposition of fund assets.

All unused and unencumbered cash on deposit to the credit of the municipal cumulative capital development fund does not revert to the corporation general fund nor to any other fund but shall remain with the municipal cumulative capital development fund until such time as an ordinance is passed which rescinds the tax levy for this fund, and the town council authorizes a transfer of any remaining unexpended, unencumbered assets of the fund, all pursuant to IC 6-1.1-41-5 and 36-1-8-5. [Ord. 1614 § 2, 2016].

Article III. Rainy Day Fund

3.45.175 Establishment.

(A) There is hereby authorized, created and established a fund of the town of Highland, to be called the rainy day fund, pursuant to IC 36-1-8-5.1 et seq.

(B) The rainy day fund is dedicated and established for accumulating funds to provide resources to support lawful purposes of the municipality, including meeting exigencies as herein may be defined and such other purposes permitted by IC 36-1-8-5.1 and as are identified in this article.

(1) Unused and unencumbered funds transferred pursuant to and identified in IC 36-1-8-5, 6-3.5-1.1-21.1, 6-3.5-6-17.3, or 6-3.5-7-17.3;

(2) Interest earned from the investment of moneys on deposit to the credit of the fund, provided such investments are conducted pursuant to IC 5-13-9 et seq.;

(3) An appropriation in the annual budget in the several funds of the municipality as may be identified and approved by the town council, and then transferred to the rainy day fund, subject to the provision of IC 36-1-8-5.1(d);

(4) Unassigned fund balances which may be identified in the several funds of the municipality, as may be approved by the town council, and then transferred to the rainy day fund, subject to the provision of IC 36-1-8-5.1(d); and

(5) Any other sources which Indiana law from time to time may authorize.

(D) The rainy day fund is subject to the same appropriation process as other funds of the municipality that receive tax money.

(E) In any fiscal year, at any time, the town council may transfer not more than 10 percent of the town’s total annual budget for that fiscal year, adopted under IC 6-1.1-17, to the rainy day fund as authorized by IC 36-1-8-5.1.

(F) No transfer may be made from a debt service fund, unless such transfer qualifies as a dormant fund balance, under IC 36-1-8-5.

(G) The rainy day fund is established and remains in effect until such time as the fund is repealed or rescinded by action of the town council. [Ord. 1651 § 1, 2017].

3.45.180 Purposes, uses and permissible expenditures.

(A) Subject to the provisions of this section, the town council may at any time by ordinance or resolution transfer to the corporation general fund, or any other appropriated funds of the municipality, money that has been deposited in the rainy day fund.

(B) Expenditures from the rainy day fund shall be used for the following purposes:

(1) To make temporary, indefinite or permanent transfers to other funds of the town for cash flow purposes to meet debt service, payroll and monthly accounts payable when tax revenues are not received in a timely manner to mitigate interest expense on tax anticipation debt as provided in IC 36-1-8-4;

(2) To pay the deductibles on insurance not already provided for in other funds of the municipality;

(3) To pay monetary settlements, damages or claims in consequence of a legal cause of action;

(4) To pay and provide resources for the reimbursement of costs borne by municipal employees for medical infertility services subject to the ordinance which may authorize and establish such an employee group benefit;

(5) To pay expenses related to repairs of the emergency and weather warning siren system of the town not already provided for in other funds of the municipality;

(6) To pay expenses related to special consulting for fiscal affairs particularly associated with cost of governmental services, costs analysis and related analysis and review;

(7) To pay expenses related to the acquisition of real property and improvements by the municipality not already provided for in other funds of the municipality;

(8) To pay expenses related to demolition, debris removal and restoration services on real property and improvements owned or leased by the municipality, not already provided for in other funds of the municipality;

(9) To pay expenses related to any other lawful governmental purpose for which money is appropriated by the fiscal body of the municipality.

(C) Notwithstanding IC 36-5-2-9.6, the affirmative vote of four members of the town council is necessary for the following uses of the fund:

(1) To pay the deductibles on insurance not already provided for in other funds of the municipality;

(2) To pay monetary settlements, damages or claims in consequence of a legal cause of action;

(3) To pay expenses related to repairs of the emergency and weather warning siren system of the town not already provided for in other funds of the municipality;

(4) To pay expenses related to the acquisition of real property and improvements by the municipality not already provided for in other funds of the municipality. [Ord. 1651 § 1, 2017].

3.45.185 Expenditure upon appropriation.

Expenditures from the rainy day fund may be made only upon appropriation by the fiscal body for the purpose for which the fund is specifically established, in the manner provided by statute for making other appropriations and shall be disbursed only on approved accounts payable vouchers allowed by the legislative body, all pursuant to IC 5-11-10 and 36-5-4. [Ord. 1651 § 1, 2017].

3.45.190 Investments authorized.

Money in the rainy day fund may be invested; provided, that the yields from the purchase and sale of any such investments shall be deposited with the fund pursuant to IC 5-13-9 and this chapter. [Ord. 1651 § 1, 2017].

3.45.195 Preservation and disposition of fund assets.

All unused and unencumbered cash on deposit to the credit of the rainy day fund does not revert to the corporation general fund nor to any other fund but shall remain with the rainy day fund until such time as an ordinance is passed and adopted regarding its disposition. An ordinance with the purpose of abolishing and defeasing the rainy day fund and authorizing a transfer of any remaining unexpended, unencumbered assets of the fund to a particular fund shall not be passed or adopted under suspension of the rules under the provisions of IC 36-5-2-9.6. [Ord. 1651 § 1, 2017].

Article IV. Cumulative Capital Improvement Fund

3.45.200 Cumulative capital improvement fund.

(A) Establishment and Sources of Funds. There is hereby authorized, created and established a fund of the town of Highland, to be called the cumulative capital improvement fund, pursuant to IC 6-7-1-31.1:

(1) The fund is dedicated and established to provide resources for the purposes permitted by IC 6-7-1-31.1 as may be amended from time to time and as set forth in this code;

(2) The distribution of cigarette taxes as described particularly in IC 6-7-1-30.1 that is not dedicated for the corporation general fund will be retained and deposited in the town of Highland cumulative capital improvement fund;

(3) In addition to the funds described in subsection (A)(2) of this section, the receipts described in subsection (D) of this section may be deposited to the cumulative capital improvement fund;

(4) The cumulative capital improvement fund that has been in place as part of the municipal treasury, and in place at the time of this code amendment, shall continue and shall be deemed to be the one and same fund herein authorized and described and will remain in effect each year thereafter until such time as the fund may be rescinded by action of the town council or operation of law.

(B) Purposes, Uses and Permissible Expenditures. That expenditures from this fund shall, for the purposes, uses and in support of the purposes or uses permissible for the funds as described and set forth in this code as may be amended from time to time, only be used for the following purposes:

(1) To purchase land, easements, or rights-of-way;

(2) To purchase buildings;

(3) To construct or improve city owned property;

(4) To design, develop, purchase, lease, upgrade, maintain, or repair:

(a) Computer hardware;

(b) Computer software;

(d) Communications access systems used to connect with computer networks or electronic gateways;

(5) To pay for the services of full-time or part-time computer maintenance employees;

(6) To conduct nonrecurring in-service technology training of unit employees;

(7) To undertake internet application development;

(8) To retire general obligation bonds issued by the town for one of the purposes stated in subsection (B)(1), (2), (3), (4), (5), or (6) of this section; or

(9) For any other governmental purpose for which money is appropriated by the fiscal body of the city or town.

(C) No Expenditures Except Upon Appropriation. Expenditures from the fund may be made only upon appropriation by the fiscal body for the purpose for which the fund is specifically established, in the manner provided by statute for making other appropriations, and shall be disbursed only on approved accounts payable vouchers allowed by the legislative body, all pursuant to IC 5-11-10 and IC 36-5-4.

(D) Investments Authorized. Pursuant to IC 5-13-9, and Chapter 3.40 HMC, moneys in the fund may be invested; provided, that the yields from the purchase and sale of any such investments be deposited to the credit of the fund.

(E) Preservation and Disposition of Fund Assets. Subject to subsection (F) of this section, all unused and unencumbered money on deposit to the credit of the cumulative capital improvement fund does not revert to the corporation general fund nor to any other fund but shall remain with the cumulative capital improvement fund, all pursuant to IC 6-7-1-31.1(b).

(F) The town may at any time, by ordinance or resolution, transfer to:

(1) Its general fund; or

(2) An authority established under IC 36-7-23; money that has been derived under IC 6-7-1-31.1 that has been deposited in the cumulative capital improvement fund. [Ord. 1695 § 1, 2019].

Article V. Operating Reserves

3.45.210 Corporation general fund operating reserve.

The reserve balance of the corporation general fund is hereby fixed to a recommended operating reserve amount, which represents a reserve level equivalent to five months of expenses. [Ord. 1529 § 1, 2012].

3.45.215 Parks and recreation general (special operating) fund operating reserve.

The reserve balance of the parks and recreation general (special operating) fund is hereby fixed to a recommended operating reserve amount, which represents a reserve level equivalent to five months of expenses. [Ord. 1529 § 1, 2012].

3.45.220 Redevelopment general fund operating reserve.

The reserve balance of the redevelopment general fund is hereby fixed to a recommended operating reserve amount, which represents a reserve level equivalent to four months of expenses. [Ord. 1529 § 1, 2012].

3.45.225 Officers’ duties regarding operating reserves.

The officers of the relevant and associated governing bodies with authority over the funds named herein shall work in good faith to obtain and maintain the operating reserves prescribed by this article to the extent possible. [Ord. 1529 § 1, 2012].

3.45.230 Fiscal officer’s authority and duties regarding operating reserves. Revised 4/21

(A) The clerk-treasurer as municipal fiscal officer shall calculate the appropriate operating reserve balance each year for each fund described herein based upon the budget approved and adopted for the fiscal year to which the reserve is to apply.

(B) The clerk-treasurer is authorized and affirmed to take all such steps to carry out the purposes of this article. [Ord. 1529 § 1, 2012].

Code reviser’s note: Ordinance 1550 adds this section as HMC 3.45.130. This section has been editorially renumbered as HMC 3.45.123 to avoid duplication of section numbering.

Code reviser’s note: Ord. 1728 adds this section as HMC 3.45.130. This section has been editorially renumbered as HMC 3.45.125 to avoid duplication of numbering.

Code reviser’s note: Ordinance 1550 adds this section as HMC 3.45.135. This section has been editorially renumbered as HMC 3.45.127 to avoid conflict with Article II of this chapter, Capital Funds.

Code reviser’s note: Ord. 1624 adds this section as HMC 3.45.130. This section has been editorially renumbered as HMC 3.45.128 to avoid duplication of numbering.