(A) All transfers of resources between funds (both operating and residual equity transfers) shall only be made in accordance with governing body appropriations. Such appropriations shall be contained in the original or amended budget of the municipality.
(B) Once lawfully appropriated, interfund transfer payments may be made by the town’s Clerk- Treasurer without further governing body approval. Such transfers, however, may not exceed the amount lawfully appropriated.
(C) The manner of payment shall be consistent with the manner used for the payment of purchases of goods, services and capital as described above.
(D) The town’s Clerk-Treasurer shall record or cause to be recorded in the appropriate journals and ledgers these interfund transfers.
(Ord. 2012-4, passed 4-9-2012)