Interesting item from last Advisory Committee meeting; The Town Administrator presented the committee with an end of year financial transfer request. Transfer from Insurance and Benefits fund to Veterans Fund. Amount of transfer request is $7,000.00. The amount shown to still be in the Veterans fund as of April 27, 2018 is $5,365.00. The amount shown to be in the Insurance & Benefits Fund as of April 27, 2018 is $519,538.00.
From the 3rd quarter financial report from Town Accountant dated April 23, 2018, Insurance & Benefits shows $745,860.27
A month earlier, expenditure report dated March 22, 2018 shows Insurance & Benefits as $747,776.49
Will be interesting to see what the end of year balance is for Insurance & Benefits, as in what is left over, if any.
I also have to question why a Town with a general fund spending plan of over 8 million dollars is going to use a meals tax, which does not even exist yet, as a basis to support 3 year leases on a car and a truck (police cruiser and highway one tone truck) while letting about $196,000.00 roll forward, untouched. I have to question why create 2 new 3 year bills when you do not have to. Spend the money you have and put the leftover into capital stabilization fund.
The warrant article states a three year lease for both vehicles at $42,000.00 per year with a limit of $126,000.00. If you just use the $126,000.00 as the case price for both items, there would still be $70,000 to put into capital stabilization without creating new bills that now have to be funded with future unknown money. What if the meals tax does not pass? Again,my view is it is a foolish move to let that $196 thousand roll on and bet on an unknown.
It is Time for a change - VOTE Jeff Bennett for Selectmen