Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Town Finance topic
No spam. Unsubscribe anytime.
Rutland Town reports stronger‑than‑expected local option tax receipts; board approves audit engagement and accounting policy
Summary
Town Treasurer reported Q4 local option tax receipts of $372,487.43 and a total FY‑to‑date $1,590,618.26, exceeding the year's budgeted anticipation. The select board adopted an accounting/auditing policy and authorized a fiscal year audit engagement estimated at $19,000.
At its May 20 meeting the Rutland Town Select Board heard financial updates from Town Clerk and Treasurer Carrie Clark and approved an updated accounting, auditing and financial reporting policy and an engagement letter to begin the annual audit work.
Carrie Clark told the board the town’s fourth‑quarter local option tax installment was $372,487.43, bringing total receipts for the fiscal year to $1,590,618.26. “We budgeted this year as an anticipation of $1,300,000,” Clark said, noting the receipts exceed the budgeted anticipation by $290,618.26.
The board then considered a draft accounting, auditing and financial reporting policy; the select board voted to adopt the policy (vote recorded as 4‑0). Clark also presented an audit engagement letter from the town’s auditor, AM Paish, with an estimated gross fee of $19,000; the board approved the engagement and authorized the chair to sign the engagement letters (vote recorded as 4‑0).
Board members also approved a request to extend the Grand List work deadline to Property Valuation & Review (a GRAMA list extension) and authorized the chair to sign the extension request. The motion carried 4‑0.
Clark and staff noted other administrative items in progress: business personal property work that will affect next year’s grand list, bids due for a reappraisal, and outreach on delinquent tax notices for the third installment.
