§ 295.21. Management of fund.

1.

There may be paid into such fund:

a.

Such amounts as may be provided by budgetary appropriations;

b.

Amounts from any other fund authorized by the General Municipal Law by resolution subject to permissive referendum; and

c.

Such other funds as may be legally appropriated.

2.

The cash balance of such fund at the end of any fiscal year shall not exceed $100,000.00 or five percentum of the total budget for such fiscal year, whichever is the greater amount. The amount paid into such fund during any fiscal year shall not exceed $33,000.00 or 1 2/3 percentum of the total budget for such fiscal year, whichever is the greater amount.

3.

The moneys in such fund shall be deposited in one or more of the banks or trust companies designated in the manner provided by law as depositories of the funds for the County of Westchester. The Commissioner of Finance may invest the moneys in such fund in obligations specified in the General Municipal Law. Any interest earned or capital gain realized on the money so deposited or invested shall accrue to and become part of such fund.

4.

The Commissioner of Finance shall account for this fund separate and apart from all other funds of the County of Westchester. Such accounting shall show: the source, date and amount of each sum paid into the fund; the interest earned by such fund; capital gains or losses resulting from the sale of investments of this fund; the order, source thereof, date and amount of each payment from this fund; the assets of this fund, indicating cash balance and a schedule of investments. The Commissioner of Finance, within 60 days of the end of each fiscal year, shall furnish a detailed report of the operation and condition of this fund to the County Board.

(L.L. No. 6-1986, § 1)