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Wayne board weighs moving $54,344 in Ladd Recreation Center funds into town reserve; sends draft to lawyer
Summary
Board members debated how to treat $54,344 held in a Winthrop Area Federal Credit Union account for the Ladd Recreation Center, agreed to seek attorney review of draft article language to create a nonlapsing reserve account for those funds, and passed a motion to have staff get legal input and reconvene if needed before warrant posting.
On May 27 the Select Board discussed an unstaffed bank account holding $54,344.43 that the town currently maintains at the Winthrop Area Federal Credit Union and that has historically held Ladd Recreation Center (LRC) receipts and donations. Board members said the account has not been clearly reflected in the town's budget or reserves and asked whether the funds could be moved into a named nonlapsing reserve account to improve…
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