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Select Board warned of tight cash, Treasurer recommends pursuing Tax Anticipation Note
Summary
Treasurer Robyn Lebreton told the Select Board that the town’s cash position is tight and recommended pursuing a Tax Anticipation Note (TAN) after noting the TAN interest line was omitted from MS-232/MS-9 filings and may require DRA approval.
Treasurer Robyn Lebreton told the Select Board on May 5 that the town’s cash position is tight and that the May 5 manifest of roughly $55,000 would further reduce available funds. She said she has set up electronic fund transfers for school payments and is moving some reserves into certificates of deposit to earn modest interest.
Lebreton recommended pursuing a Tax Anticipation Note to cover short-term cash needs but warned the TAN interest line was omitted from the MS-232 and MS-9 filings and that the town may need to ask the New Hampshire Department of Revenue Administration (DRA) for permission to add that line. "The manifest will reduce available cash," she said, urging the Board to consider the TAN option and to coordinate with DRA.
She also recommended tightening internal controls by updating the manifest signature language to explicitly show electronic payments—such as IRS and retirement obligations—so the Board can see large electronic outflows alongside paper warrants.
The Board assigned the Treasurer to contact DRA and to provide updated bank balances and outstanding checks. The Board approved the May 5 manifest (for $55,750.52) and the April 30 accounts payable and payroll manifest (for $82,227.62) during the meeting.
Next steps include the Treasurer contacting DRA to confirm whether the TAN interest line can be added to MS-232 and MS-9 and returning to the Board with bank balances and options for short-term borrowing.
