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Budget committee presses for reconciled impact-fee accounting after town report
Summary
At its April 6 meeting the Brentwood Municipal Budget Committee reviewed an impact-fee accounting presentation and requested a reconciled report showing receipts, expenditures and compliance with the six-year statutory window; staff agreed to produce quarterly reconciliations and tie bank statements to spreadsheet records.
Brentwood — The town’s budget committee asked town staff on April 6 to produce a reconciled, quarterly accounting of the municipality’s impact-fee receipts and expenditures after a staff presentation showed gaps between the spreadsheet and bank statements.
Ambrose, who walked the committee through the Excel reconciliation and TD Bank statements, said the town has “collected $834,000, and we only have about $420,000 left,” and that some recent receipts had not yet been transferred into the escrow/subaccounts. He said there is a roughly $30,000 timing discrepancy that will be disbursed from the general fund while staff completes the reconciliation.
Chair Jim read statutory…
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