from the warrant for Annual Town meeting on May 14, 2016.
Two new revolving funds are being proposed for Fiscal 2017:
1) A Veterans Benefits
Revolving Fund, which would receive state reimbursement funds for benefits to veterans
paid by the Town. The Commonwealth reimburses the Town for 3/4ths of the costs of
veterans benefits. The standard procedure is for the Town to fund the entire amount of
veterans benefits and to receive state reimbursement in the following fiscal year. A
revolving fund would permit the Town to use state reimbursements to partially fund the
program in the current year; and
2) A Highway Department Revolving Fund, which would
receive payments from other departments that have utilized Highway Department
workers during emergencies. Currently, if the Water Department has need for Highway
workers to assist with a break in a water line beyond the normal work day, the Highway
Department provides assistance and covers the cost from its own overtime budget. The
Water Department would compensate, but the compensating funds would go into the general fund and would not be available until the next fiscal year.
Why can't this be done the same way the selectmen handled the insurance payment and just put the money right back in the account? Why do these need revolving accounts but the selectmen office expense account does not need a revolving account?
Jeff Bennett
