(A) A fund is established pursuant to I.C. 36-1-8-5.1 to be known as the county “Rainy Day Fund.” The Rainy Day Fund may receive funds from the following sources:
(1) Transfers of unused and unencumbered funds under I.C. 36-1-8-5.
(2) Funds provided to the county as a special distribution pursuant to I.C. 6-3.6-9-17 by the Budget Agency of the State of Indiana.
(3) Reimbursement from any lawful source for monies appropriated and spent from the Rainy Day Fund, in accordance with proper approvals from the fiscal body of the county.
(B) The Rainy Day Fund is established with the intent that it may be appropriated and utilized to alleviate a fiscal crisis, brought about by unforeseen circumstances, which is reasonably likely to result in the county’s inability to meet budgeted expenses and which crisis can not be reasonably remedied through emergency appropriations or other means provided by statute.
(C) In any fiscal year, not more than 10% of the county’s total budget for that fiscal year may be transferred to the Rainy Day Fund.
(D) The Rainy Day Fund is subject to appropriation by the fiscal body of the county. Before making any such appropriation, the fiscal body shall make a finding that the proposed use of the appropriation from the Rainy Day Fund is consistent with the intent of the fund.
(Ord. 1-2-18, passed 12-30-2002; Ord. 2016-6, passed 8-15-2016; Ord. 2020-5, passed 7-20-2020; Ord. 2022-1, passed 2-7-2022)