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Council to convene meeting to reconcile Little Compton Housing Trust fund accounting
Summary
Councilor Aarade Moore requested clarity on the Housing Trust fund balance and reporting; council agreed to convene an in-person meeting with finance staff, housing trust representatives, the building official and town administration to reconcile records and report back to the council.
Councilor Aarade Moore asked for a status and balance of the Little Compton Housing Trust Fund and urged a process for regular reporting so trustees and the council can track funds coming in from building-fee percentages and funds withdrawn from the trust.
Town staff and councilors acknowledged confusion in email records and reporting. Speaker 3 recommended pulling historical permit and fee records back to 2018 to calculate expected collections and reconcile withdrawals; Speaker 6 (finance/administrator role in discussion) proposed an in-person working meeting that would include two representatives from the housing trust, finance staff, the building official and councilors to work through the numbers.
Speaker 3 moved to convene the group and asked that they report back to the council at a future meeting; the motion was seconded and passed. Councilors stressed this is not an allegation of missing funds but a request for clarity on where money is being recorded and how it is transferred into the trust.
Next steps: the convening group will meet (date to be scheduled) to reconcile permitting-derived fee collections and withdrawals and will prepare a report to the council. The council requested the meeting take place ahead of the next housing trust meeting if possible.
