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Calais council moves to pay $381,450 county assessment from reserves, pledges close monthly oversight
Summary
Facing a $381,450.59 county assessment, Calais council voted to pay the town’s share from its undesignated fund balance and agreed to monitor cash flow monthly, while discussing borrowing and investment options and the prospect of a forensic audit.
The Calais City Council voted to pay the town’s $381,450.59 share of a county assessment by drawing on the city’s undesignated fund balance and short-term cash, after a lengthy discussion about borrowing, interest costs and accounting mechanics.
The presiding official framed the decision at the start of the discussion: “We only got 2 options. We got to pay it now, pay it later,” and later recommended taking the full assessed amount from reserves while monitoring receipts and expenditures each month. Finance staff warned that some invested funds would be harder to liquidate than short-term CDs and that cash-flow pressure —…
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