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Queenstown approves transfer from certificates of deposit to cover water/sewer loan payments
Summary
Commissioners approved moving funds from town certificates of deposit into the Water/Sewer Fund to cover $79,326.80 in USDA and MDE loan payments due within two weeks. The motion passed 2–0; officials asked staff to clarify classification of WS repairs and rate comparisons ahead of a rate study.
At its Jan. 8 meeting, the Queenstown Commissioners approved a temporary transfer of funds from town certificates of deposit (COD) into the Water/Sewer Fund to cover upcoming USDA and MDE loan payments totaling $79,326.80.
Town Clerk Aaron Horney reported the town’s balances: General Fund $180,951.32; Water/Sewer Fund $9,360.73; and ARPA Fund $591,483.36, and said loan payments of $79,326.80 are due from the water/sewer fund within two weeks, requiring the transfer to ensure timely payment.
Commissioner Bryon Callahan moved to transfer certificates of deposit into the Water/Sewer Fund with Finance Member Pat Bowell determining which COD(s) and the amounts; President Al Hardee seconded. The motion passed on a recorded vote of 2 aye, 0 nay.
Callahan also requested clarification on whether water/sewer line repairs should be classified as capital expenditures and asked staff to collect comparative water/sewer rates from other towns for discussion at an upcoming rate-study meeting. Town Attorney Lyndsey Ryan and Town Manager Amy Moore agreed to research and report back.
The commission also accepted the Dec. 11, 2024 regular meeting minutes by motion and adjourned at 4:45 p.m.
