Transfers to the Rainy Day Fund may be made anytime throughout the year by ordinance or resolution. The Town Council 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 more than 10% of the town's total budget for the fiscal year.
(Ord. 2004-4, passed 6-14-04; Am. Ord. 2015-8, passed 10-26-15)