(A) A Y2023 Water Improvement Project Special Revenue Non-reverting Fund (the “Fund”) for the town is established for the deposit of funds received by the town from the county pursuant to the terms of the Joint Interlocal Cooperation Agreement between the town and the county. The funds deposited into the Fund shall be used consistent with the requirements of and parameters for the funds disbursed by the county to the town pursuant to the Joint Interlocal Cooperation Agreement between the parties.
(B) The Town Clerk-Treasurer shall account for, maintain records of deposits and expenditures, and comply with all rules, regulations, and requirements of the Indiana State Board of Accounts for fund management in the state, including reporting of same, all consistent with the rules, regulations, and requirements of the Indiana State Board of Accounts, as same are amended from time to time.
(C) At the end of each budget/calendar year, monies remaining in the Fund shall remain in the Fund, and no funds therein shall revert to the town General Fund, or any other fund, in conformance with applicable law for such funds in the state.
(Ord. 1471, passed 9-5-23)