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Clifton Treasurer presents preliminary June financials showing $1.19 million in town funds
Summary
Town Treasurer Marilyn Barton presented a preliminary financial report showing total funds of $1,189,957.24, highlighted CIF and contractual expenses, and noted a replacement BPOL check from Cox Enterprises posted as $7,171.61 while further clarification is being sought.
Marilyn Barton, the Town Treasurer, circulated and summarized the Town of Clifton's preliminary financial reports for the period ended June 30, 2018. The Summary of Cash Balances in the materials shows total funds of $1,189,957.24. Barton described the report as preliminary and said additional accruals of income and expenses would be recorded as they are received.
The Treasurer flagged a replacement check from Cox Enterprises in the amount of $7,171.61 that was posted to BPOL revenue; she said staff are making further inquiries to clarify the item. The financial package included CIF (Capital Improvements Fund) activity and expenses: FY17 paving services by K2 (invoiced amounts recorded) and a J2 Engineering invoice for the Streetscape project. Contractual expenses cited in the report included costs associated with the Clifton Celebration honoring Wayne Nickum ($2,786), auditing fees ($3,250) and legal fees ($375). The preliminary Profit & Loss schedules in the package show line items for community-hall revenues, committee fundraising proceeds and other program receipts.
The Treasurer provided detailed transaction listings in the packet, including deposits for BPOL, use permits, cigarette tax, sales tax receipts, and CIF check payments for paving and engineering. Council accepted the Treasurer’s report and approved it by motion during the meeting. The report will be finalized after the accruals are recorded and any outstanding inquiries are resolved.
