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RPC reports strong March finances despite property transfer tax dip
Summary
Executive Director Devin told the committee the March 2026 P&L showed nearly $212,000 net income; although statewide property transfer tax revenue was down (reducing RPC allocations by roughly $10,000 each), the RPC expects to finish the year in the black and is preparing a June finance committee meeting to finalize the budget.
The Rutland Regional Planning Commission executive committee reviewed March 2026 financials on May 11 and was told the organization recorded net income of nearly $212,000 for the period.
Devin said all member towns have paid dues and that revenue was bolstered by strong fourth-quarter billings. He cautioned that statewide property transfer tax collections were lower than expected, prompting an across-the-board reduction of about $10,000 per RPC, but said the commission can absorb that shortfall this year. Devin noted certain expense lines (rent, insurance, equipment under a Dell agreement) are high because those costs are paid through the year.
Devin reported pass receivable totaled $487,500 as of March 31, 2026, and stood at about $233,000 at the time of the meeting. He also said the finance assistant has taken on more grant billing and QuickBooks duties under MK's oversight; the auditor indicated the delegation was acceptable for now and staff will present a fuller finance procedural update in September.
Devin flagged a potential $50,000 federal emergency management planning grant that, if awarded and executed, would add revenue but he said staff will not budget that amount until the agreement is in hand. The committee scheduled a longer June executive finance meeting to review the work plan, budget and policy updates.
Next step: staff will prepare budget materials and a policy update for the June finance committee meeting.
