Town Meeting Warrant Article of the Day
Article 16: Revolving Fund Spending Limits
Every year Town Meeting authorizes the Town’s revolving accounts and sets spending limits for those accounts. A revolving fund separately accounts for specific revenues and earmarks them for expenditure by a board or officer without appropriation for particular purposes to support the activity, program or service that generated the revenues. Town Meeting authorizes the revolving account, its use, and how much can be spent from the account each year.
To learn more about the different types of revolving accounts, visit here: https://www.mass.gov/doc/revolving-funds-chart-non-school-department-program/download