Templeton selectmen must have made a mistake:
Filing paper work with it's financial advisor and Bond Counsel
Paper work shows principal town officials with the treasurer/collector and town administrator being appointed indefinitely.
On the Templeton town website, under Town contracts and agreements, it shows the town administrator appointed for one year and the treasurer/collector appointed from 7/31/2017 to 7/31/2020.
The email address for Templeton financial advisor:
mary.carney@hilltopsecurities.com
Why would anyone misrepresent such information?
(This information is from meeting items listed for the BOS meeting on August 8, 2018)
On another note, free cash for fiscal year 2018 (FY2018 ended June 30, 2018) at $643,396.00.
(page 20 of a BAN document listed)
Remember, in the FY2019 spending plan (budget) there was left over free cash of $196,692.00 plus budgeted for but not appropriated school debt of $417,911.00.
The dollar figure listed indicates there is another $28,000.00 available from un assigned funds (free cash, so called) from FY2018.
Financial documents or BAN to be dated August 23, 2018.
from T/A weekly report of 7/26/2018
Town Accountant: Lynn continues to work through audit of sick . . . .The hope was to present final quarter & year end reports on August 2, but that needs to be pushed off to August 22.
Hmmm, "final quarter and end reports pushed off to August 22" ! Now why would that be ? Just could be this assistant is not certified either ! Could it be she knows less than our uncertified accountant. Read the between the lines ! If you remember, or have not been paying attention, the people voted for a certified person in the accounting and treasurer collector offices. The Selectman strike out again !
ReplyDeleteOk, when did the T.A. and Treasurer Collector get voted in for indefinite terms ? What meeting did that happen in ? Did this happen in a closed meeting, like behind our backs ? Just when I have heard big fumbles about people wanting the T.A. gone. Seems our "Superior group" is sadly out of touch with the community.
Deletehttp://www.templeton1.org/sites/templetonma/files/file/file/treasurercollectorcontract-cherylrichardson-redactedprivateinfo.pdf
ReplyDeleteRead page 40 regarding Stabilization Fund and page 49 regarding OPEB Funds. Maybe you'll have the same questions as I did.
1) Why are we using a 6/30/17 date and number of $106,730 rather than a 6/30/2018 date and number more accurately reported as $244,230.00 after the addition of $137,500 at the 11/14/17 Special Town Meeting.
2) maybe it the same issue as with OPEB. The Treasurer/Collector states on July 25, 2018 that currently the balance in the OPEB Fund is $64,000. Interestingly that to is no inclusive of $20,000 added from Article 11 of the 11/14/17 Special Town Meeting.
Why do we apparently have over $150,000 floating in accounts not supported by the votes of Town Meeting.
Why 9 months after the Town Meeting Vote have these monies not been transferred.
This all makes me wonder why you wouldn't present you best face when applying for a loan. Why wouldn't we show the updated balances? Where is that money located now?
It's all a shell game and will continue as such until Templeton reverts back to a line item budget.
ReplyDeleteSo is free cash going to be certified by the DOR even though the $417,911 in school debt has not been appropriated by town meeting?
Doesn't seem likely.
Is it even legal to pay off the prior debt with money that was borrowed for the new school ? Money we are paying interest on ? Maybe the Inspector General knows ! It is the shell game that has gotten us in trouble, time and time again !
DeleteTaking a quick look at the Templeton Financial Policies it doesn't appear to be an approved method to correct errors.
ReplyDeletehttp://www.templeton1.org/sites/templetonma/files/file/file/financial_management_policies-signed_10.10.17_0.pdf