WHEREAS pursuant to Indiana Code Section §36-1-8-5.1 the Delaware County Council (the “Council”) may establish a rainy day fund by the adoption of an ordinance specifying the purposes of the fund and the approved sources of funding;
WHEREAS the Council has previously established a rainy day fund most recently via Ordinance 2009-042 and subsequent amendments thereto;
WHEREAS the Council desires to further amend and restate the prior rainy day ordinances thereby creating a single and cohesive ordinance governing the purpose of the rainy day funds and the approved sources of funding;
NOW, THEREFORE, BE IT ORDERED, ESTABLISHED, DETERMINED, AND ORDAINED by the Delaware County Council as follows:
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1.
The Council hereby establishes the Delaware County Rainy Day Fund (“Rainy Day Fund”) to receive transfers from all unused and unencumbered funds as permitted by law as follows:
- a. Funds raised by general or special tax levies pursuant to Indiana Code §36-1-8-5;
- b. All local income taxes pursuant to Indiana Code §6-3.6 et. seq. and supplemental distributions thereof pursuant to Indiana Code§ 6-3.6-9-15 and as otherwise provided by law.
- c. Any other funding source permitted by law.
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2.
The Council shall not transfer more than ten (10%) of the County’s annual budget for each fiscal year to the Rainy Day Fund.
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3.
All expenditures from the Rainy Day Fund shall be subject to the same appropriations process as other funds which receive tax money.
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4.
The funds contained in the Rainy Day Fund may be used for payment of the following expenditures:
- a. The purchase of furniture and fixtures for County facilities and offices;
- b. Maintenance, construction, or emergency repairs of any buildings or improvements owned by the County or which the County is legally required or compelled to maintain;
- c. The purchase of computer hardware or software;