Use of revolving funds to help Chicopee programs

CHICOPEE, Mass. (WWLP) – Chicopee’s city council took a step to help some municipal programs this week.

The council approved what are called “revolving funds.” In this case, it will help programs at the library, summer camp, and passport services, among others.

Basically, revolving funds allow a city department to keep the money it makes for a program or service, and re-invest it into the same program.

“It is a nice way of making sure the money follows the needs,” Chicopee Mayor Richard Kos said.

Kos told 22News that the program generates anywhere from a few dollars to around $100,000.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s