approve2024-068
Accept 2024-068 as presented.
2024-068 · BUDGET · 2024
An Order to establish spending limits for departmental revolving funds pursuant to the provisions of M.G.L. c. 44, Section 53E 4 for fiscal year beginning July 1, 2024.
The City of Amesbury adopts FY25 revolving fund spending caps for three departmental funds: youth activities, Council on Aging, and EV charging initiatives. The spending limits are controlled by the relevant department heads and the Chief Financial Officer and remain in place until revised by City Council.
approved CITYWIDE
- STEP 1SubmittedMAY 14 2024
- STEP 2 · CURRENTApprovedMAY 28 2024
AI summary · plain-language
This order establishes annual expenditure limits for departmental revolving funds in Amesbury for fiscal year 2025 (starting July 1, 2024). It sets specific caps for youth programs ($600,000), Council on Aging programs ($100,000), and EV charging stations ($20,000), with authority for expenditures allocated to the respective directors and the Chief Financial Officer. The limits remain in effect from year to year until the City Council revises them before the next fiscal year.
Key provisions
§1 Establishes FY25 expenditure limits for departmental revolving funds pursuant to M.G.L. c. 44, Section 53E(4).
§2 Sets expenditure caps: Youth activities and programs $600,000; Council on Aging programs $100,000; EV charging stations $20,000.
§3 Authorizes spending by Youth Director and Chief Financial Officer; COA Director and Chief Financial Officer; OCED Director and Chief Financial Officer.
§4 Limits stay in effect from year to year until revised by City Council prior to July 1 for the ensuing year.
Discussed at meetings
City CouncilCity Council Meeting
refer2024-068
Refer 2024-068 to the Budget & Finance subcommittee with a second reading date of May 28.
2024-0682024-068 Establish spending limits for revolving funds