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Select Board debates use of free cash and reserve policy; plans to revisit financial management policy
Summary
Board members discussed concerns about repeated use of one-time funds and proposed revisiting the town’s financial management policy to increase reserves and reduce reliance on free cash for recurring expenses.
Select Board members spent substantial time discussing the town’s use of free cash and its broader financial-management policy during the May meeting, concluding the board will place a formal item on a future agenda to consider changes.
The topic matters because the board’s policy determines how one-time revenues (free cash) are applied to operating expenses or set aside in reserve…
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