Be it enacted by the Senate and House of Representatives
in General Court assembled, and by the authority of the same,
Notwithstanding the provisions of any general or special law to the contrary, the Shelburne Falls fire district is hereby authorized to establish a separate account to be known as the Emergency Medical Services Enterprise Fund, hereinafter referred to as the Enterprise. Such account shall be maintained by the treasurer of said district and all receipts, revenues and funds from any source derived from all activities of the Enterprise shall be deposited in such separate account. The treasurer may invest the funds in such separate account in the manner authorized by sections fifty-five and fifty-five A of chapter forty-four of the General Laws. Any interest earned thereon shall be credited to and become part of such separate account. The books and records of the Enterprise shall be maintained in accordance with generally accepted accounting principles and in accordance with the requirements of section thirty-eight of said chapter forty-four.
No later than one hundred and twenty days prior to the beginning of each fiscal year, an estimate of the income for the ensuing fiscal year and a proposed line item budget of the Enterprise shall be submitted to the board of commissioners. Said board shall act upon the budget in the same manner as all other budgets.
The board shall include in its tax levy for the fiscal year the amount appropriated for the total expenses of the Enterprise and an estimate of the income to be derived by the operations of the Enterprise. If the estimated income is less than the total appropriation, the difference shall be added to the tax levy and raised by taxation. If the estimated income is more than the total appropriation, the excess shall be appropriated to a separate reserve fund and used for capital expenditures of the Enterprise, subject to appropriation, or to reduce user charges if authorized by the board. If during a fiscal year the Enterprise incurs a loss, such loss shall be included in the succeeding fiscal year's budget.
If during a fiscal year the Enterprise produces a surplus, such surplus shall be kept in such separate reserve fund and used for the purposes provided therefor in this act.