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Rutland RPC reports January net income, flags receivables and hires a planner starting April 6
Summary
Executive Director Devon reported January P&L net income of roughly $135,000, noted timing‑driven receivables (including a $260,000 Fair Haven invoice and a $146,000 Quisp item), and said a new planner hire will start April 6 with continued recruitment for two positions.
Devon, the commission's executive director, presented the January financial report to the Executive Finance Committee on March 9, saying the January profit‑and‑loss statement reflected net income of roughly $135,000, in part because a third‑quarter ACC invoice was captured in December.
Devon walked members through drivers behind unusual balances: local dues and a large Fair Haven invoice (about $260,000) contributed to higher revenue recognition in the period, while accounts receivable reflected timing differences on deliverable‑based contracts. Devon said accounts receivable had totaled roughly $598,000 at one point and was about $341,000 at the time of the meeting; the Quisp item alone accounted for roughly $146,000 of outstanding receivables. He noted that many invoices are in the 1–60 day range and that staff expect cash receipts soon.
On staffing and budget outlook, Devon said the commission has filled one planner position and that the new hire will start on April 6, which will restore some town‑planning capacity. He said continuing vacancies (three planner positions were open earlier) have lowered payroll and output, and that staff are preparing a cash‑flow projection and may propose a midyear budget adjustment in April or May. Devon also reported that property transfer tax revenue is down statewide by about $100,000 (less than $10,000 for the region) and that the governor's proposed budget includes nearly a 3% increase in base funding, which could help fund an additional planner.
Questions from members focused on receivable aging and deliverable‑based billing for road erosion inventories; Devon said much of the outstanding balance reflects contracts that cannot be invoiced until work is complete. No formal finance actions were taken; members received the report and had no additional questions.
Ending: Staff will complete the cash‑flow projection and return with recommendations if a midyear adjustment or other action is needed.
