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Accounts Committee hears update on Manchester's revolving loan fund
Summary
Committee received an informational update on the city's revolving loan fund; presenters reported a recent payment removed an account from the overdue list and no formal action was taken.
At a meeting of the Manchester Committee on Accounts, members received an informational update on the city’s revolving loan fund. The item was presented as an update only; committee members did not take formal action on changes to the fund.
Mr. Clark, a staff member who presented the report, said he did not have substantive comments but was open to questions. He noted that “accounts receivable over 90 days” improved after the school administration submitted a payment and that the top item listed in the report (noted in the document as “404 ks”) fell off the overdue list.
Chairman Theriault and the aldermen in attendance acknowledged the update and the committee moved on to the next agenda item without further action.
The committee did not set follow-up tasks or approve changes to the fund during this portion of the meeting.
