Committee presses staff over unposted transfers, a $25,000 misposting and Capital Improvement Fund accounting

At the Financial Advisory Committee meeting, members pressed the town manager and CFO about a set of budgeted transfers that have been recorded on manual reports but not yet posted in Blackbaud. Committee chair Manish Sood asked directly whether the $429,000 budgeted transfer from the general fund to the capital improvement fund had been posted; staff said the cash exists but the transfer entry had not been made in Blackbaud.

David Delaney identified a negative $25,000 balance in the capital improvement fund as a "glaring error" and said it was caused by a misposted purchase order; he said the entry should be shifted to an expense account. Francine and Delaney told the committee they will fix the posting and recommended moving budgeted transfers into Blackbaud so the fund balances match the council‑approved capital plan.

The CFO and manager also discussed several reclassifications: expenses for the Hyde Park storm response — about $180,000 for materials and equipment — are currently recorded in the road and drainage fund but will be reallocated to the capital improvement fund and submitted for FEMA reimbursement. Delaney and staff said some capital expenditures were input but not posted when they arrived, which temporarily inflated current-year capital spending figures.

Why it matters: Unposted transfers and mispostings can create misleading fund balances and complicate the town's budget-to-actual reporting ahead of July and September budget actions. Committee members asked staff to post budgeted transfers, correct the mispostings, and deliver the requested fund‑level P&L report so elected officials and the advisory committee can see consistent financials.