(A) In accordance with Act 416 of 2019, a sub fund of the County Road Fund is hereby established to track the revenues and expenditures of the wholesale tax on gasoline and diesel; to properly account for, control, and report codified as A.C.A. § 26-64-104.
(B) There is hereby created on the books of the County Treasurer/County Comptroller a fund to be known as the Additional Motor Fuel Tax Fund (Act 416 of 2019) with a fund number of 2003 as assigned by Arkansas Legislative Audit. The Revenue Code for the county highway turnback receipted to this fund is 7002.
(C) In accordance with the Act, the Additional Motor Fuel Tax Fund is subject to all the normal county budgeting, appropriation and expenditure regulations of A.C.A. Title 14 and Title 27. The fund is subject to annual reporting and disclosure requirements to be submitted to the Director of the Department of Finance and Administration. The report shall detail the:
(1) Amount of highway revenue turnback revenues received;
(2) Expenditures made from the highway revenue turnback revenues received; and
(3) Projects funded using the highway revenue turnback.
(Ord. 2019-10, passed 11-19-19)