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Stevensville council hears cash report; water and sewer asset accounts separated for clarity
Summary
Finance staff presented a cash report and budget-versus-actual summary to the Stevensville Town Council on Jan. 23, 2025, explaining that water and sewer assets have been reclassified into dedicated accounts to track reserves and potential grant-match availability. Councilors asked questions; no formal action was required.
Stevensville Town Council reviewed an informational cash report and budget-versus-actual summary presented by Robert Underwood and Gina Crowe at its Jan. 23, 2025 meeting.
Underwood and Crowe told the council they reorganized funds so water and sewer capital and reserve dollars are held in dedicated asset accounts rather than pooled with general operating cash. That reclassification is intended to show required reserves separately — including USDA-required backup loan reserves and capital asset reserves — and to make it easier to identify…
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