SECTION 1. Notwithstanding any general or special law to the contrary, the Town of Middleton Finance Committee may establish a reserve fund to be utilized in the current or upcoming fiscal year or years to transfer funds to the Middleton School Committee to pay, without further appropriation, for unanticipated, unbudgeted and/or extraordinary costs of special education out of district tuitions and/or transportation. The Town of Middleton School Committee may appropriate or transfer in the current or upcoming fiscal year or years from the school department budget in order to fund said reserve fund. The Town of Middleton Board of Selectmen may appropriate or transfer in the current or upcoming fiscal year or years from the town budget in order to fund said reserve fund. Said appropriations or transfers shall be in addition to any appropriation or transfers which may be approved by town meeting, from time to time, to said reserve fund. The balance in said reserve fund shall not exceed 2% of the Middleton Elementary Schools' annual net school spending as defined in Chapter 70 of the Massachusetts General Laws for the prior fiscal year.
SECTION 2. This act shall take effect upon its passage.
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