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Select Board reviews road maintenance funding and capital reserve carryover
Summary
Board members reviewed Article 16 (roads and paving capital reserve), discussed year‑to‑date spending, carryforward mechanics and whether contracts obligating funds before July 1 would use the current fiscal year's funds or next year's capital reserve.
At the May 27 meeting the Select Board examined Article 16, the appropriations and capital reserve entries for roads and paving. Staff reported year‑to‑date road maintenance spending of $278,194 and a balance that could be carried into a roads reserve of about $119,826 if not spent before the fiscal year ends.
Members asked whether an awarded contract executed before July 1 would obligate the current fiscal year's funds or whether invoice timing would determine the fiscal charge. Staff advised that obligations made before the fiscal year end are generally chargeable to that fiscal year if contracts and encumbrances are in place, but they said they would confirm the town's specific practice with auditors. The board also noted the auditors had not yet delivered final year‑end financial statements; staff repeated attempts to obtain those reports.
Board members discussed the difference between maintenance and reconstruction lines, how leftover maintenance dollars would be handled and whether money left unspent would move to the capital reserve in the following year. One member urged the town to proceed with road grading and prep work expected this summer and said that an unspent maintenance balance could be put to use before fiscal year end. The board voted to recommend Article 16 as presented.
