1. Capital Improvement Program and Maintenance Reserve. The reserve shall be used to account for cash and other assets placed into it periodically. The Capital Improvement Program and maintenance reserve shall be allocated its pro rata portion of the interest earned on its moneys in the central treasury. Such funds are accumulated for projects included in the Capital Improvement Program and include such things as major maintenance, repairs, upgrades, renovation or rehabilitation, expansion, demolition, and new construction of Borough facilities. All expenditure of these funds must be made by appropriation ordinance.

2. Vehicle and Equipment Replacement Reserve. The vehicle and equipment replacement reserve shall be used to account for cash and other assets placed into it periodically. Such funds are accumulated for the purpose of purchasing new vehicles and equipment as old assets wear out or become no longer serviceable. All expenditures of these funds must be made by appropriation ordinance. Disposal sale proceeds shall go back into the vehicle and equipment replacement reserve. (Ord. 2023-23 § 2, 2023; Ord. 2022-64 § 2, 2022; Ord. 2021-14 § 5, 2021.)