Town of Lynnfield, MA Chapter 10 Departmental Revolving Funds

[HISTORY: Adopted by the Town Meeting of the Town of Lynnfield 4-30-2018 ATM by Art. 11. Amendments noted where applicable.]

§ 10-1 Purpose.

This bylaw 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 MGL c. 44, § 53E 1/2.

§ 10-2 Expenditure limitations.

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 bylaw without appropriation subject to the following limitations:

A. Fringe benefits of full-time employees whose salaries or wages are paid from the fund shall also be paid from the fund.

B. No liability shall be incurred in excess of the available balance of the fund.

C. 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 Selectmen and the Finance Committee.

§ 10-3 Interest.

Interest earned on monies credited to a revolving fund established by this bylaw shall be credited to the general fund.

§ 10-4 Procedures and reports.

Except as provided in MGL c. 44, § 53E 1/2, and this bylaw, the laws, charter provisions, bylaws, 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 bylaw. The Town Accountant 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 provides the department, board, committee, agency or officer on appropriations made for its use.

§ 10-5 Authorized revolving funds.

[Amended 10-18-2021 ATM by Art. 3]

The table below establishes:

A. Each revolving fund authorized for use by a Town department, board, committee, agency or officer;

B. The purpose of 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; and

D. The department or agency head, board, committee or officer authorized to spend from each fund.

Revolving Fund	Purpose	Revenue Source	Authorized to Expend Funds
Council on Aging	To provide programs for seniors	Fees collected for senior center activities and field trips	Council on Aging
Board of Health	To provide services to operate flu clinic	Flu clinic fees	Board Of Health
Library	To address replacement of lost library books	Lost book fees	Library Trustees
Recreation	To provide recreation activities, field trips and field maintenance	Fees collected from programs	Recreation Committee
Public Works-Fields	To provide maintenance and upkeep of athletic fields	Athletic field maintenance fees	Director of DPW
Public Works-Merritt Center	To provide maintenance and upkeep of the Merritt Center	Rental fees from the Merritt Center	Director of DPW
Tree Replacement Fund	Buying, planting and maintaining trees in Lynnfield	Payments required under Tree Protection Bylaw[1]	Planning Board

[1] Editor's Note: Scrivener's error. Should read "Tree Preservation Bylaw."

§ 10-6 When effective.

The revolving funds hereby established shall exist from and after Fiscal Year 2019, subject to a vote of Town Meeting on or before July 1 of each year as to the limit on the total amount that may be expended from each fund in the following fiscal year.