[HISTORY: Adopted by the Annual Town Meeting of the Town of Newbury 4-25-2017 by Art. 14. Amendments noted where applicable.]
A. 
This by-law establishes and authorizes revolving funds for use by Town departments, boards, committees, agencies or officers in connection with the operation of programs or activities that generate fees, charges or other receipts to support all or some of the expenses of those programs or activities. These revolving funds are established under and governed by General Laws Chapter 44, § 53E1/2.
A. 
A department or agency head, board, committee or officer may incur liabilities against and spend monies from a revolving fund established and authorized by this by-law without appropriation subject to the following limitations:
(1) 
Fringe benefits of full-time employees whose salaries or wages are paid from the fund shall also be paid from the fund [, except for those employed as school bus drivers2].
(2) 
No liability shall be incurred in excess of the available balance of the fund.
(3) 
The total amount spent during a fiscal year shall not exceed the amount authorized by Town meeting on or before July 1 of that fiscal year, or any increased amount of that authorization that is later approved during that fiscal year by the select board and finance committee.
Interest earned on monies credited to a revolving fund established by this by-law shall be credited to the general fund.
Except as provided in General Laws Chapter 44, § 53E1/2 and this by-law, the laws, charter provisions, by-laws, rules, regulations, policies or procedures that govern the receipt and custody of Town monies and the expenditure and payment of Town funds shall apply to the use of a revolving fund established and authorized by this by-law. The Town accountant auditor shall include a statement on the collections credited to each fund, the encumbrances and expenditures charged to the fund and the balance available for expenditure in the regular report the Town accountant auditor provides the department, board, committee, agency or officer on appropriations made for its use.
The Table establishes:
a. 
Each revolving fund authorized for use by a town department, board, committee, agency or officer,
b. 
The department or agency head, board, committee or officer authorized to spend from each fund,
c. 
The fees, charges and other monies charged and received by the department, board, committee, agency or officer in connection with the program or activity for which the fund is established that shall be credited to each fund by the town accountant,
d. 
The expenses of the program or activity for which each fund may be used,
e. 
Any restrictions or conditions on expenditures from each fund,
f. 
Any reporting or other requirements that apply to each fund, and
g. 
The fiscal years each fund shall operate under this by-law.
Board/ Department/ Officer authorized to expend:
Revenue Source
Funds may be expended only for:
FISCAL YEARS
Fund
Newbury Recreation Committee with the approval of the Town Administrator
Fees charged for field usage
field maintenance and capital and other expenses
Fiscal Year 2018 and subsequent years
Recreation Revolving Fund
Harbormaster, subject to the approval of the Town Administrator
Funds received as required by Clause (i) Section 2 of Chapter 60B of the General Laws and sums received from waterway fees, permits, fines, or any other designated sources
Municipal Waterways Improvement and Maintenance
Fiscal Year 2018 and subsequent years
Municipal Waterways Improvement and Maintenance Fund