Local government finance

May 1, 2015

Are your Cumulative Funds in good standing?

If you have a cumulative fund of any kind, or if you want to establish one, June is a good time to do some checking. The end of July is a firm deadline for establishing or reestablishing a cumulative fund. If you are SURE there have been no past reductions in your cumulative fund rates, or if you are sure you do not want to establish a new rate or LoL  increase an old one, you probably don’t need to take any action. However, if a cumulative fund rate was lowered in the past, if it was never at the maximum rate, or if you want to establish a new one, you must give a ten day notice and hold […]