§ 18B-4. Disposition of surplus.

A. 

In any year where revenues collected, excluding the application of surplus, exceed expenditures, the excess revenues shall be deposited in the following manner:

(1) 

If the Town is not in compliance with the adopted Fund Balance Policy, then excess revenues shall be applied to the reserve fund of the Town-Wide General Fund until the Town is in compliance with the adopted Fund Balance Policy.

(2) 

If the Town is in compliance with the adopted Fund Balance Policy, then excess revenues shall be allocated as follows:

(a) 

Forty percent shall be deposited into the Town-Wide General Fund.

(b) 

Twenty percent shall be deposited into the Joseph Macchia Environmental Preservation Capital Reserve Fund.

(c) 

Ten percent shall be deposited into the Solid Waste Management Reserve Fund.

(d) 

Ten percent shall be deposited into the Motor Vehicle Reserve Fund.

(e) 

Ten percent shall be deposited into the Snow Reserve Fund.

(f) 

Ten percent shall be deposited into the Capital Projects Reserve Fund.