CCRPC committee approves FY22 journal entries, reports estimated $69,000 surplus

The Chittenden County Regional Planning Commission Joint Executive & Finance Committee voted unanimously Sept. 7 to approve quarterly journal entries for April–June 2022 and reviewed an unaudited FY22 year-end report showing an estimated surplus of just over $69,000.

Forest Cohen, senior business manager, presented the financial overview and said the surplus consisted of about $47,000 from booking unused local dues as revenue at year-end and roughly $22,000 from operations. Cohen also noted a high receivables balance driven by late fiscal-year VTRANS consultant invoices.

Cohen summarized balance-sheet details: $152,962 in checking, $307,069 in a money-market reserve, and current assets exceeding current liabilities by $794,115. He said the CCRPC received some funds in advance during the year, including a $75,000 Pandemic Response allotment from ACCD and quarterly ACCD Energy Implementation payments of about $32,000, which improved cash flow; the unaudited bank balance rose from $167,322 on July 1, 2021, to $460,031 on June 30, 2022.

Jeff Carr, a Finance Committee member, praised staff: “the final numbers are very impressive and are some of best figures he has ever seen for the CCRPC.” Charlie Baker, executive director, and Cohen said they will review moving a portion of the FY22 gains into the money-market reserve after the audit is complete, taking care not to harm near-term cash flow.

The committee approved the journal entries and other finance items unanimously. Staff said the audit will provide final figures and the committee will determine any transfers to reserves at that time.