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Selectmen discuss fund-balance policy, DRA memo; direct staff to attach memo to minutes and schedule work session
Summary
Selectmen reviewed prior warrant articles and a Department of Revenue Administration memo about maintaining unassigned fund balance, asked staff to attach the DRA memo to the meeting minutes and scheduled more work sessions to clarify fund-balance targets and any warrant-article implications.
Wolfeboro — The Board of Selectmen on Feb. 19 revisited town fund-balance policy and a December memo from the New Hampshire Department of Revenue Administration (DRA) that staff said explains the risks of low unassigned fund balance.
What happened: Board members and members of the public discussed a string of warrant articles and past practice about how much unassigned fund balance the town should hold and whether surplus above a target should be…
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