HomeMy Public PortalAbout006-2012 - A Special Resolution allowing funRESOLUTION NO. 6 -2012
WHEREAS, Indiana Code § 36- 1 -8 -5.1 permits the establishment of a "Rainy Day
Fund" for the purpose of receiving transfers of unused and unencumbered funds raised by
general or special tax levies, excess amounts accumulated from the County Adjusted
Gross Income Tax ( CAGIT), and any other funding source specified in a resolution and
adopted under this section; and
WHEREAS, the Richmond Sanitary District Board of Commissioners of Richmond,
Indiana established a "Rainy Day Fund" on May 25 2004; and
WHEREAS, on April 5 2012, the State of Indiana Office of Management and Budget
announced that an error had been made in the distribution of income tax beginning in
January of 2011 and, as a result, there would be a "make up" distribution of CAGIT of
$97,159.25 for 2011 creditable to the Richmond Sanitary District; and
WHEREAS, the Richmond Sanitary District desires to deposit the "make up" distribution
of income tax to the District's "Rainy Day Fund ".
NOW THEREFORE, be it ordained by the Board of Sanitary Commissioners of the
Richmond Sanitary District of Richmond, Indiana that:
The "make up" distribution of CAGIT for 2011 shall be deposited into the
District's "Rainy Day Fund ".
2. The "Rainy Day Fund" is subject to the same appropriation process as other funds
that receive tax money. Before making an appropriation, the Board of Sanitary
Commissioners shall make a finding that the proposed use of the "Rainy Day
Fund" is consistent with the intent of the fund.
APPROVED AND ADOPTED this 8 th day of May 2012.
BOARD OF SANITARY COMMISSIONERS
S/S Richard W. Bodiker
President
S/S Gil Klose
Vice President
S/S Greg S tiers
Member
Attest: S/S Denise Johnson
Denise Johnson, Recording Secretary