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(A) Creation of Rainy Day Fund. There is hereby established a Rainy Day Fund to receive transfers of unused and unencumbered funds raised by a general or special tax levy on taxable property within the town whenever the purpose of such tax levy has been fulfilled and an unused and unencumbered balance remains.
(B) Purposes of the fund. The funds on deposit in the Rainy Day Fund may be used for the operation of the town and its various departments, when the town does not have sufficient levies or funds to pay such costs, including, but not limited to, salaries and wages, costs of services, supplies, equipment, capital improvements, repairs and similar expenditures.
(C) Transfer to fund. After the last day of the town’s fiscal year, the Clerk-Treasurer shall determine the amount, if any, of any unused and unencumbered funds available to be transferred to the Rainy Day Fund, which transfer may not exceed 10% of the town’s annual budget for that fiscal year.
(D) Appropriations. The Town Council may authorize the expenditure of funds from the Rainy Day Fund by appropriations made in the same manner as other funds are appropriated that receive tax monies, upon making a finding that the proposed use of the funds is consistent with the intent of the fund.
(Ord. 982, passed 11-21-06)
(A) There is hereby established a special non-reverting fund for the partially self-funded employee health insurance plan and it shall be designated and known as the Special Non-Reverting Employee Health Insurance Fund.
(B) The Clerk-Treasurer shall transfer on a monthly basis equal to one-twelfth of the maximum plan exposure minus the employee contribution from the appropriate department budgets to the fund.
(C) The Clerk-Treasurer is further directed and authorized to transfer the employee contribution for health insurance coverage to the Fund in order for said contributions to supplement the cost of the employee health insurance plan. The transfer of such funds shall be made on a monthly basis.
(D) Upon completion of the transfers to the fund, the Clerk- Treasurer is authorized to make payment, without any further appropriation, of the maximum claim level plus any administrative costs, to the third-party administrator for the purpose of administering this plan.
(Ord. 989, passed 3-6-07)
(A) There is established for the Town of Cedar Lake a Special Monastery Woods Clubhouse Non-Reverting Fund for the Town Department of Parks and Recreation for the purpose of collection and deposit of all miscellaneous revenues generated by the Monastery Woods Clubhouse Park facility and Park parcel upon which it is located in order that such collected funds will be used for the operation, maintenance and upkeep fo the Monastery Woods Clubhouse facility and the Park and Recreation Department activities conducted at such facility and parcel for the benefit of the residents of the Town of Cedar Lake, all pursuant to the provisions of IC 36-1-3-1 et seq., as amended from time to time.
(B) The established Special Monastery Woods Clubhouse Non- Reverting Fund shall be funded from all income generated by the Monastery Woods Clubhouse Facility, including , but not limited to, residential apartment lease payments, facility rental fees, Park and Recreation Department activities fees, for activities on the Park parcel upon which the facility is located, donations related expressly to the Monastery Woods Clubhouse facility only, and any and all similar types of revenue.
(C) The funds deposited into the Special Monastery Woods Clubhouse Non-Reverting Fund established hereby shall be reviewed on an annual basis by the Town Council with the Town Board of Parks and Recreation. All miscellaneous revenue and income, together with all expenses, shall be provided in a report to the Town Council. Revenue in the fund established hereby shall be used exclusively for the operation, maintenance and upkeep of the Monastery Woods Clubhouse facility and Park parcel upon which same is located, as well as activities conducted and overseen by the Department of Parks and Recreation at the Monastery Woods Clubhouse facility upon which it is located, and no other, without the express approval and authorization of the Town Council.
(D) The established Special Monastery Woods Clubhouse Non- Reverting Fund established hereby shall continue as a special non- reverting fund until or unless amended or repealed by subsequent ordinance of the Town Council. The fund balance in the Special Monastery Woods Clubhouse Non-Reverting Fund established hereby shall be non-reverting in each calendar year end. In the event that the Special Monastery Woods Clubhouse Non-Reverting Fund is terminated by repeal or amendatory ordinance, the funds contained therein at the time of termination of the Fund by repeal or amendatory ordinance shall be deposited into the general fund of the town.
(Ord. 1027A, passed 12-18-07)
(A) A Special Asset Seizure Non-Reverting Fund (SASNR Fund) is hereby established.
(B) The Clerk-Treasurer shall be authorized to deposit seized monies into the Special Asset Seizure Non-Reverting Fund (SASNR Fund).
(C) The Chief of Police shall have the discretion not to deposit monies into the Fund if there exists a valid reason for them to remain in the evidentiary room, such as a chain of custody situation.
(D) The monies shall remain in the Special Asset Seizure Non- Reverting Fund (SASNR Fund) until an order is received from a court with jurisdiction over the funds as to what party holds an ownership interest in the monies.
(Ord. 1066, passed 10-20-09)
(A) There is hereby established the town “Police Department School Drug Resiliency/Drug Education Program Special Revenue Non- reverting Fund” (the “Fund”), which shall be a special revenue non- reverting fund under the rules, regulations, and requirements of applicable state law, including the Indiana Code, as amended from time to time, as well as the administrative rules and requirements of the Indiana State Board of Accounts.
(B) Any monies collected as donations and contributions, event participation and/or registration fees, grants, or any other specifically designated funds collected for the town Police Department drug education program which are not otherwise specifically deposited pursuant to any other town ordinances or state law, as well as specific designated appropriations from other town funds, shall be deposited into the Fund.
(C) The monies deposited into the Fund shall be utilized and expended only in connection with the planning, coordination, preparation, and implementation of any and all activities related to the town Police Department drug education program designated and identified specifically for such purposes, and all activities related thereto, but no other.
(D) The Clerk-Treasurer of the town is hereby authorized and directed to take all appropriate and required steps to establish the Fund in conformance and compliance with all applicable law, as amended from time to time. The School Drug Resiliency/Drug Education Program Special Revenue Non-reverting Fund will replace and take over the D.A.R.E. Special Revenue Non-reverting Fund.
(Ord. 1470, passed 9-5-23)
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