Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance Audit topic
No spam. Unsubscribe anytime.
Budget committee schedules auditor briefing after hearing town's fund-balance growth
Summary
Committee members were told Belgrade's total fund balance rose from $2.86M (2024) to $3.05M (2025) and the unassigned fund balance grew by roughly $820,000; the auditor will present the full audit to the select board and budget committee on July 7.
Budget Committee members were briefed on preliminary audit figures and told the town's total fund balance increased from $2.86 million in calendar year 2024 to $3.05 million in 2025. The committee was also told that the unassigned (available) fund balance rose from about $2.17 million to roughly $2.99 million — an increase on the order of $820,000 — driven by higher-than-budgeted non-property revenue and expenditure savings.
Committee members were invited to attend the auditor's presentation to the select board and the budget committee on July 7, when the auditor will review the full audit and answer technical questions. Members discussed benchmarks for fund balance (20% is a common policy target; some auditors cite 25%) and debated whether the town should budget more aggressively for non-property revenues, or rely on surpluses to build capital reserves.
The committee discussed capital-planning practices, including annualized contributions to reserve accounts (for example, setting aside a per-year target toward replacement of major equipment) and the value of monthly financial reports to enable department directors to manage line items during the fiscal year. Members noted specific capital pressures such as transfer-station equipment and fire-department needs; the transcript records department-level concerns but not formal appropriation actions.
