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Bow Selectboard approves accounting moves and policy updates; fund balance adjustments said to have no tax‑rate impact
Summary
Selectboard approved moving $1,000,000 to an allowance for pending abatements, increased the overlay from $500,000 to $600,000, voted to adopt an updated cash receipts policy, and authorized sealing minutes from a nonpublic session; officials said the moves have no immediate impact on the tax rate.
At its Oct. 14 meeting, the Bow Selectboard approved a set of financial and administrative measures the town’s staff said were necessary to reflect post‑meeting changes and pending claims.
Finance staff explained that warrants and warrant article reductions reduced appropriation levels and that assessors updated the MS‑1 form. The board approved an accounting motion to increase the allowance for potential abatements by $1,000,000 to cover pending prior‑fiscal‑year abatements and voted to raise the overlay account from $500,000 to $600,000. Officials repeatedly stated these actions would have no immediate impact on the town’s tax rate.
The board also voted to adopt an updated cash receipts policy to reflect current procedures and corrected position titles in policy text. Earlier in the meeting the board authorized entry into a nonpublic session under RSA 91‑A:3 II(e) concerning pending claims and voted to seal the minutes until any related litigation is resolved.
What happens next: Finance staff will implement the accounting entries and reflect the changes on the MS‑1; the board will review related financial items at upcoming meetings.
