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Town treasurer’s report shows $1.42 million in checking/savings; CARES/NEU funds largely used for green-space purchases
Summary
Council reviewed attached financial statements showing total checking/savings of $1,420,655.68, John Marshall Bank CDs of $319,893.90, and a COVID-relief NEU deposit of $221,173.25 (about $196,805 already allotted to green-space purchases). The council accepted the treasurer’s report.
The Clifton Town Council reviewed and accepted the treasurer’s report and attached financial statements at its Oct. 4 meeting.
The packet included account balances and budget-performance tables. Key figures in the attached financial pages: John Marshall Bank CDs totaling $319,893.90; Money Market Savings—United $881,221.38; Checking—United Bank $199,907.73; Security deposit $4,412.20; Total Checking/Savings $1,420,655.68. The report listed total income and expense lines and year-to-date budget performance.
The minutes and notes stated the town’s COVID-related NEU deposit totaled $221,173.25 (FY21 $69,177.25 and FY22 $151,996.00). The town reported $196,805.00 of those funds applied to recent green-space purchases and the remaining $24,368.25 expected to be reported for lost revenues tied to canceled events (such as the Homes Tour and Haunted Trail). The report also documented CIF (Capital Improvements Fund) income and expenses and the consolidated net income figures for the reporting period.
The minutes did not record any council dissent on the report; the Treasurer’s Report was placed on the record per the agenda.
