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Committee notes $500,000 transfer to capital reserve and plans to recoup $69,000 liquid-fuels adjustment
Summary
Borough staff said tax collections make it possible to move the budgeted $500,000 from the general fund into capital reserves and explained a $69,000 transfer to highway aid was needed after a 2022-23 liquid fuels audit; staff will document eligible expenses this year to offset that amount.
The Narberth Borough Finance & Administration Committee heard a treasurer's report outlining two near-term financial moves: a board-approved, budgeted transfer of $500,000 from the general fund into the capital fund reserve, and a one-time $69,000 reclassification tied to a liquid-fuels audit.
"I would like to request of the committee authorization to go ahead and make the transfer of the $500,000 that we had budgeted from the general fund to go into our…
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