(A) It is hereby determined that monies earned on the investment of funds generated by any entity of the village, and regardless of the nature of the investment or the return, shall accrue and be payable only to the entity which generated the investment funds. Whenever practical, the funds shall be separated into individual accounts by the Fiscal Officer for investment or deposit purposes. When the funds are not separated for investment or deposit purposes, a proration of any income received on the joint investments or deposits shall be made between the various contributors to the fund, which proration shall be based upon the percentage of monies contributed by each village entity.
(B) This section shall prevent the operation of state law which provides that returns on investment of municipal funds not otherwise designated shall accrue to the General Fund of the municipal corporation.
(Ord. 35-78, passed 9-1-1978)