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North Chevy Chase council approves budget amendments, notes $245,000 CD maturing
Summary
The Village of North Chevy Chase approved three budget amendments to align accounting with state guidance, voted 4-0, and recorded year-to-date income of $276,546.60 and combined assets of $3,051,765.18; the village will roll a $245,000 CD on Jan. 26, 2026.
The Village of North Chevy Chase on Jan. 20 approved three amendments to its fiscal year budget after receiving guidance from its general counsel.
Treasurer Geetika Sripathi presented the December financial report and the proposed amendments, saying the changes were necessary to comply with state law and proper accounting procedures. She reported year-to-date income of $276,546.60 and year-to-date expenses of $202,634.25, including $22,000 spent on tree maintenance. The village reported combined assets of $3,051,765.18 and a $245,000 certificate of deposit at UBS that matures Jan. 26, 2026 and will be rolled into a new CD.
The three amendments approved were: an increase in insurance and bond expense to $978.05 (from $475); an increase in professional fees to $57,900 (from $26,700); and an increase in office/equipment of $1,000 to $17,128. The council recorded a 4-0 vote to approve the amendments. The minutes did not record a mover, seconder, or individual vote names.
Council directed the Village Manager to follow up with General Counsel Ron Bolt and the auditor LSWG to clarify ongoing budget modification requirements and reporting formats. The Treasurer also said financial reporting formats will be updated to improve transparency.
The council also approved the December meeting minutes as part of the evening's routine business.
The council did not set new budget line-item dates at the meeting; follow-up with counsel and the auditor is expected to clarify procedural steps for future amendments.
