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Plymouth select board approves $669,228 encumbrances, officials say fund balance will rise to about $2.1 million
Summary
The Plymouth Select Board voted to move $669,228 in encumbrances from the fiscal 2024–25 budget into fiscal 2025–26, officials said the action will allow planned IT and mechanic investments and preserve roughly $300,000 for the townfund balance.
The Plymouth Select Board voted unanimously Monday to encumber $669,228 from the FY2024–25 budget into FY2025–26 to cover approved projects and planned purchases.
The action, made by motion and voice vote, moves money set aside for projects the town expects to complete next year, including information-technology upgrades and items tied to the highway garage mechanic position, town officials said.
The encumbrance decision follows a budget closeout review. The townmanager told the board there was 8.9% of the budget remaining and about 2.8% of revenues uncollected as of June 12. He said departments prepared implementation plans for FY2025–26 and that, even after the encumbrances are charged, the town expects to add roughly $300,000 to the unassigned fund balance, bringing the balance from about $1.8 million to about $2.1 million.
"After the encumbrances and the funds that need to be expended over the next six weeks, we're still going to be able to put $300,000 plus back into the fund balance," the town manager said during the meeting.
Board members discussed the townDepartment of Revenue Administration guidance for fund balances and asked staff to confirm the minimum fund-balance threshold. The finance director told the board the townaims to remain in the Department of Revenue Administrationsafe zone.
Motion and vote: a select board member moved to approve the encumbrances as presented; a fellow member seconded the motion and the board voted in favor.
Board discussion also covered how the encumbrances are targeted to purchases that can be completed over the next year so the town will not need additional appropriations for those items, officials said. The measures are part of routine year-end fiscal housekeeping ahead of the July 1 start of the new fiscal year.
The board did not alter the encumbrance amounts before voting; officials said they would answer follow-up questions about specific encumbrances on request.
