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Council approves $373,427 CIP transfer, authorizes suspense tax transfers and removes aged receivables
Summary
The council approved a $373,427 transfer from the CIP building fund to interest expense, authorized a $296,812.84 transfer to the suspense tax book, and removed $9,536 of aged receivables from town assets, while noting collection efforts will continue.
The Newington Town Council on June 24 approved several routine financial actions: a transfer of $373,427 from the CIP building fund to a general-fund interest expense account, authorization to transfer $296,812.84 to the suspense tax book, and removal of $9,536 in aged receivables from the town’s receivable assets.
Director of Finance Janet Murphy certified that the CIP building fund had funds free from encumbrances and presented the transfer to the council; the motion was seconded and carried unanimously.
Council discussed the suspense-list action and emphasized that moving receivables to the suspense tax book does not end collection efforts. Councilors noted that the 2009 receivable balance had declined from earlier levels to roughly $9,536 remaining and that collection efforts continue as payments come in.
The council also approved property tax refunds totaling $21,449 as certified by the revenue collector; motions on these financial items carried unanimously.
Outcome: budget transfer approved; suspense tax transfer and removal of aged receivables authorized; tax refunds approved.
