(A) Creation of fund. The town hereby creates and establishes a specific fund to be known as the “Information Technology Internal Service Fund” into which all monies in the form of reimbursements of costs for information technology services on behalf of other funds, departments, or agencies of the town shall be deposited.
(B) Purpose of fund. The primary purpose of the Information Technology Internal Service Fund is to more accurately track and account for the costs of information technology services for the town.
(C) Responsibility for fund. The Clerk Treasurer shall be responsible for the deposits and disbursements of the fund and shall keep records as to the disbursements, reimbursements, and current balance in such fund at all times.
(D) Deposit of funds. Upon receipt of cost reimbursements from other funds, departments, or agencies, the Clerk Treasurer shall immediately deposit all receipts into the Information Technology Internal Service Fund.
(E) Disbursement of funds. The Clerk Treasurer is directed to only disburse funds from the Information Technology Internal Service Fund created hereunder upon a receipt of a claim allowed and signed as outlined in the town's purchasing policy by the Clerk Treasurer's Office.
(F) Limitations on the use of funds. Any funds placed in the Information Technology Internal Service Fund may not be withdrawn except for the purposes for which the fund was created.
(Ord. 20-2018, passed 7-23-2017)