Council unanimously voted to transfer $115,482 from the General Fund to the Capital Reserve Fund (CRF).
The CRF is for unplanned expenses that can occur during any year, such as the replacement of damaged equipment that can’t be repaired, the need for additional equipment, structure failures, or other needs that may arise.
A Capital Reserve Fund could be compared to a borough savings account.
As per Title 8 of the Pennsylvania’s Borough Code, the money in the fund shall be used, from time to time, for the construction, purchase, replacement of or expansion of municipal buildings, equipment, machinery, motor vehicles or other capital assets of the borough and for no other purpose.
Disclaimer: On January 4, 2016, the owner of WestEastonPA.com began serving on the West Easton Council following an election. Postings and all content found on this website are the opinions of Matthew A. Dees and may not necessarily represent the opinion of the governing body for The Borough of West Easton.
