§ 10-267. Revenue Reserve Account Fund; accumulation of funds.

(a)

The County Executive shall include in the submission of the proposed operating budget of the County an appropriation to maintain the Revenue Reserve Account Fund at an amount equal to one percent (1%) in Fiscal Year 1994, two percent (2%) in Fiscal Year 1995, three percent (3%) in Fiscal Year 1996, and five percent (5%) for Fiscal Year 2004 and each subsequent fiscal year of the general fund.

(b)

In the event that funds from the Revenue Reserve Account Fund are required to pay an approved appropriation for which anticipated sources of funds have failed to be received by the County and the amount required results in the use of more than thirty percent (30%)of the balance of the Fund, additional appropriations sufficient to refund one half of the deficit shall be proposed by the County Executive in each of the succeeding two fiscal years.

(CB-81-1992; CB-6-2003)