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Board hears budget‑amendment outline; staff flags a pending IRS payroll tax issue
Summary
Staff presented proposed FY2025 budget amendments to account for projects and right‑of‑way acquisitions and told the board an IRS payroll‑tax matter may require additional budget adjustments after staff completes an internal review and communications with the IRS.
Christina reviewed a proposed amendment to the FY2025 budget that would account for specific projects such as right‑of‑way acquisition for the Sunset project and other items. She said staff would be prepared to discuss any line items the board wanted to examine in greater detail.
Christina raised a separate issue: the town recently received IRS correspondence asserting payroll‑tax liabilities. Staff told the board they believe one of the assertions is in error and that Misty (town staff) has filed a form to correct that item. A second asserted liability may be valid, and staff will determine the exact amount and bring any necessary adjustment back to the board.
Christina said the payroll‑tax matter affects last year’s budget and that staff hopes it will not trigger an audit finding. She told the board they would likely have the necessary information before the first vote on the budget amendment and that if additional figures are required, staff would return with a revised amendment prior to public hearing.
Ending: The board did not adopt the budget amendment at this meeting; staff will complete IRS discussions and return with any required adjustments before the public hearing and final adoption.
