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Selectmen adopt revised fund-balance policy after extended discussion on enterprise funds, DRA guidance
Summary
The Wolfeboro Board of Selectmen voted Feb. 5 to adopt the revised fund-balance policy (FIN-007, revised 00) as recommended by Finance Director Sam Kelly after an extended discussion about the town’s 8% unrestricted fund-balance target and enterprise-fund practices.
The Wolfeboro Board of Selectmen voted Feb. 5 to adopt the revised fund-balance policy (FIN-007, revised 00) as recommended by Finance Director Sam Kelly after an extended discussion that ranged from the policy’s 8% unrestricted fund-balance target to questions about enterprise fund accounting and DRA guidance.
Sam Kelly presented the policy and told the board the document is unchanged from the prior draft and that staff are waiting for a response from the New Hampshire Department of Revenue Administration (DRA) on a related question. “Good evening. Sam Kelly, finance director. I’m here to have you review the fund balance…
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