Recreation Revolving Fund
Established by Town Meeting in 1992 per the provisions of Massachusetts General Laws Chapter 44, Section 53E½ , the Recreation Revolving Fund holds the fees collected for the programs the Recreation Department sponsors. Prior to FY07, Recreation Department revenue was split between the General Fund and the Revolving Fund; from that point forward, all Recreation revenue has been deposited into the Revolving Fund. This was made possible by the passage of Chapter 79 of the Acts of 2005, which enabled the Town to have a revolving fund revenue ceiling equal to 2 1/2% of the property tax levy instead of the 1% ceiling imposed by the State statute.
Approved every year by Town Meeting as part of the annual appropriations article, the FY23 estimate for the Revolving Fund is $4.1 million, an increase of $213,768 (5.5%). Please see the Revolving Fund section of the Recreation Department's budget in Section IV of this Financial Plan for a breakdown of the expenditures associated with the programs accounted for under the Revolving Fund.
