[Adopted 4-11-1994; amended 5-20-1996 by Ord. No. 96-10]
[Amended 11-13-2007 by Ord. No. 07-09]
Any funds in the Town of Stratford's general
fund balance that are not reserved or designated for specific purposes
shall be transferred to the unreserved fund balance in an account
titled "Designated for Subsequent Year Tax Relief." In each fiscal
year, the Town Council of the Town of Stratford may apply an amount
of 40% to 60% of the balance in the Designated for Subsequent Year
Tax Relief Account to offset the tax levy required to fund the adopted
budget for the ensuing fiscal year, but only if the unreserved fund
balance will remain greater than 10% of the operating budget for the
ensuing year after such amount is so applied.
