Rutland reports strong first tax installment receipts; board urged to space spending ahead of January

Town Clerk and Treasurer Carrie Clark told the select board on Sept. 23 that the town had collected roughly 96% of the first installment of property taxes and that the town is still awaiting about $200,000 in payments. Clark said the school check in the orders was a major outflow — described in staff discussion as a payment just over $3.2 million — and that bond payments and other large items left the town’s checking balance at approximately $1.4 million heading into January.

Clark advised the board to “spread out some spending” and be mindful of timing because the next major tax receipts will not arrive until Jan. 10. The board discussed upcoming budget work, capital purchases and the timing of any voter-approved equipment acquisitions. Highway staff and select board members also discussed a planned excavator and trailer purchase; earlier remarks during the meeting put the approximate cost discussed in prior seasons at around $147,000 for machine and trailer (town staff said exact figures will be revisited).

Other finance items on the Sept. 23 agenda included an approved transfer of $4,049,606 in assessed value from business personal property to real property after utility appraisal adjustments; the board voted 5-0 to sign the required form and record the change.

Why it matters: Large periodic tax disbursements (school payments) and bond service create uneven cash flows for municipal operations. Staff advice to pace discretionary spending is aimed at ensuring sufficient liquidity before the January tax installment.

Next steps: Finance and personnel committee meetings will be scheduled ahead of the budget season; staff will provide updated budget worksheets and an audit status report to inform next year’s appropriations.