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Town staff reports stronger-than-expected general fund balance; installment debt closed for property purchase
5707744 · September 2, 2025
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Summary
Accounting staff reported the fiscal year ending June 30, 2025 will close with an increase to fund balance likely north of $3 million; the town closed installment debt to finance 50% of a recent property acquisition and plans debt issuance for Fire Station 6 in 2026.
Accounting staff provided an update on the town’s July financial summaries and the fiscal-year close. The presenter reported that all bills for the fiscal year ending June 30, 2025 have been paid and that the town expects to increase its general fund balance by "probably north of about $3,000,000,"…
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