Reserve Account Transfer Request

Download: Reserve Transfer Request Form (PDF)

Every year, the Town appropriates a Reserve Account within the annual budget as a means to be able to respond to operational contingencies throughout the year. It is meant for truly unforeseen situations and not to compensate for inadequate budgeting, poor management, or predictable spending fluctuations.

Appropriations are not made directly from the Reserve Account. Instead, when a Department is at risk of exceeding an appropriation due to extraordinary circumstances, a request can be made to transfer funds from the Reserve Account to supplement the budget.

In this case, the attached form should be completed by the Department Head and submitted to the Finance Committee for consideration and approval. Use of the Reserve Account is under the sole discretion of the Finance Committee.