§ 3.15.050. Cap carry-over reserves.

At the end of each fiscal year, the CAP program participation will be compared to the funding level established in the budget. In the event that the actual CAP participation is less than the amount pledged, the remaining amount will be carried-over. The carry-over will be transferred to the Customer Assistance Program Reserve Account and used to fund the program in future years.

In the event that CAP participation exceeds the amount allocated by the Board of Directors, the General Manager/CEO has the authority to transfer funds from the Customer Assistance Program Reserve fund in accordance with the budgetary transfer provision as set forth in Administrative Policy 1.3, Reserve and Financial Benchmark Policy.

( Res. No. 2018-10-1 , § 1(Att. § 5), 10-23-2018)