(A) This section authorizes the creation and use of a Natural Resources Donations Reserve as a depository to accumulate funds for costs associated with specific projects of the Natural Resources Board (NRB).
(B) This reserve is classified as an assigned reserve.
(1) Objective. Provide the town’s NRB a mechanism to account for donation funds in one or more fiscal budget years for costs associated with specific projects of the NRB.
(2) Source of funds.
(a) Donated and grant funds from various sources.
(b) All earnings from investments of this reserve shall be redeposited back into this reserve.
(3) Authorized uses. Those costs associated with specific projects recommended by the NRB and approved through the town’s standard expenditure approval process.
(4) Administration. This section authorizes the Town Clerk to deposit, withdraw and pay obligations that are in full compliance with this chapter.
(Prior Code, § 3.A06.039) (Ord. 2018-14, passed 10-24-2018)