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West Chester finance director reports roughly $27 million cash position; plans $2 million interfund write-off request
Summary
West Chester Finance Director Barb Leonte told the borough finance committee on July 9 that the borough began and ended June with roughly $27 million in cash and that she will ask the committee next month to approve a write-off of roughly $2 million to clear long‑standing interfund receivables.
West Chester Finance Director Barb Leonte told the borough’s finance committee on July 9 that the borough entered June with roughly $27 million in cash and ended the month at a similar level after about $2 million in receipts and roughly $2 million in transfers between funds.
Leonte said interfund "due to/due from" balances are a little over $2.9 million and that she will ask the committee next month to approve a write-off of about $2 million to remove several longstanding interfund receivables. She described the balances as…
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