[Adopted 11-13-2017 by Ord. No. 17-14]
There is hereby created within the financial accounts of the Town of Stratford a special revenue fund known as the "Revaluation Fund." The purpose of said fund is to account financially for the operations of the Tax Assessor's Department in connection with property revaluation as required by the Connecticut General Statutes.
The Tax Assessor's Department shall submit to the Mayor a proposed annual budget for the Revaluation Fund, including both an appropriation request setting forth the proposed appropriation of the General Fund and expenditures.
The Revaluation Fund shall disclose and report all activities of the fund at the end of each fiscal year. All financial activities of the Revaluation Fund shall be conducted in accordance with pronouncements and/or regulations of the Government Accounting Standards Board (GASB).