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Norwood recreation staff, Finance Committee discuss revolving funds and extended-day finances
Summary
Committee heard that rec play camp revenues may be misallocated between general and revolving funds, that the Extended Day program has a healthy opening balance, and that fees and program accounting are being standardized.
Finance staff briefed the Finance Committee on June 12 about the recreation department’s budgets, revolving funds and the extended-day program. The packet separated the general fund recreation, revolving funds and Extended Day to clarify program costs and revenues.
Why this matters: The town moved Extended Day from the schools into the recreation department; the committee is ensuring programs intended to be self-supporting are properly budgeted and that the town’s general…
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