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Finance committee reviews midyear finances; approves police vehicle purchase and surpluses
Summary
Finance staff reported midyear financials showing year-to-date revenues and expenditures; committee approved purchase and surplus of police vehicles and discussed the midyear budget retreat and pending budget amendment process.
The Finance Committee reviewed the town’s December financial report and approved purchasing and surplus actions for police vehicles at its meeting Thursday.
Finance staff reported that the town has completed roughly 50% of the fiscal year. “We have collected, roughly a 1,000,000 and a half during December, year to date a little over 9,000,000,” Finance staff member Rhonda said. She told committee members that year-to-date expenditures were about $22 million, or roughly 45% of the budgeted total including transfers, and said property tax receipts would begin to arrive in January. Rhonda also noted the reporting…
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