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Finance director reports cash position, due-to/due-from balances and pension payments
Summary
The borough's finance director reported year-to-date receipts, expenditures, outstanding interfund balances, a general fund net loss, and noteworthy payments including pension contributions and a workers' compensation audit settlement.
The finance director presented the monthly financial report for the year ended March 31, saying the borough booked $2,365,158 in receipts, spent $1,794,124, and ended the month with $25,267,620 across all funds.
The director highlighted a new schedule listing “due to / due from” balances. The first 12 accounts total a little over $2.4 million and represent routine interfund liabilities (for example, the general fund paying payroll for sewer employees). Four older…
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