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Board approves $20,000 donation for Meals on Wheels, a $2.57M LOTS road grant and routine tax suspense transfers
Summary
The Board of Finance accepted a $20,000 Madison Foundation donation for senior services, approved a $2.57 million LOTS road-rehabilitation grant pending state approvals, and completed an annual transfer of about $672,000 of uncollectible receivables to suspense.
The Board of Finance unanimously approved several routine items at its Jan. 21 meeting: acceptance of a $20,000 donation from the Madison Foundation for Madison Senior Services (Meals on Wheels), authorization to accept a Local Transportation Capital Improvement (LOTS) grant for roughly $2.57 million for roadway rehabilitation and small sidewalk connections, and the annual statutory transfer of uncollectible receivables into suspense.
On the donation, a board member thanked the Madison Foundation and donors for quickly securing funds for a needed senior program; the motion to accept the donation passed without extended discussion.
Tax collector Christina described the annual suspense transfer required by state statute. "Once a year, we are required for state statute to perform suspense," she said, and staff noted the amount for this year was about $672,000; she added that the town has retained an outside collection firm and recovered about $118,000 since the program began.
Rob Russo described the LOTS-funded road-rehabilitation project (roughly two miles of roadway with drainage improvements and a limited sidewalk component) as out to bid and eligible for state reimbursement pending project authorization.
Next steps: staff will execute formal acceptance steps for the grant when the state project authorization is received, place the donation into Madison Senior Services accounts, and process the suspense transfer as required by statute.
