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Budget committee reviews impact-fee accounting and aging report; staff to reconcile pre-2022 balances
Summary
Committee examined an impact-fee working document showing 2022 collections and 2023–2025 dispersals, noted 2025 data were incomplete, and requested staff reconcile older balances and aging to ensure compliance with refund rules for unspent fees.
Town finance staff presented a two-tab impact-fee working document and a one-page summary of 2022 collections and 2023–2025 disbursements. The document uses color coding (green = funds available) and shows how negative balances roll forward into subsequent years. Staff said data for 2025 had not yet been entered into the report posted to the portal.
Members asked whether there were balances prior to 2022 that needed reconciliation and whether the report included the legally required aging by individual impact-fee so the town can identify fees that must be refunded if not expended within statutory timeframes (six years was cited). Staff agreed to follow up with Julie and the town administrator to gather historical transaction records and confirm whether any refunds are required.
Committee members praised staff effort but emphasized the need for a clear process for ownership of records and for a working session with the town administrator and treasurer so all accounts and the baseline are verified. The committee will receive an updated report once older data are reconciled and the 2025 inputs are completed.
