Sec. 4.5. As used in this chapter, "unrestricted funds" means cash reserves that are not:
(1) obligated by a township's following year budget;
(2) committed to a township's capital improvement plan;
(3) encumbered by a contract or purchase order;
(4) restricted for a specific use by state or federal law or other applicable state or federal rule;
(5) restricted by a contractual obligation; or
(6) restricted by a third-party.