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Milford recreation revolving fund and reimbursements reviewed; transfers pending final accounting
Summary
Finance staff reported a $66,725.55 2024 revolving fund balance and a $65,979.85 balance as of March 14, noted reimbursable expenses for swim meets and said some transfers are pending final year-end accounting.
At the March 19 meeting the commission reviewed preliminary finances for recreation operations. Staff presented a 2024 actual revolving fund closing figure of $66,725.55 and a 2025 year-to-date balance of $65,979.85 as of March 14.
Staff said several expenses had already been paid and were awaiting reimbursement: $1,330 for portable toilet service for the Rotary swim meet, and $1,330 tied to the state swim meet (staff indicated placement of a babysitting line within the state swim meet account). Staff noted that month-to-month totals vary as revenue from swim lessons and other programs comes in at different times and payroll for lifeguards and other seasonal staff may not yet have been paid. Several line-item reallocations are still preliminary and finance staff said they would coordinate with the town finance office to place amounts in the correct accounts once 2024 and 2025 accounting is finalized.
Commission members asked whether previously approved transfers had been completed; staff said transfers approved at the December meeting may have been done but they would confirm with town finance staff (Zach) and report back at a future meeting. The commission was told a finalized accounting review would likely appear in April or May meetings.
No formal financial motions or appropriations were made at the meeting; discussion centered on reconciliations and timing of reimbursements and transfers.
