Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget topic
No spam. Unsubscribe anytime.
Board of Finance approves FY25–26 year-end transfers after staff review
Summary
The Marlborough Board of Finance approved year-end transfers after Finance Director Tony Genovese reported a $43,000 anticipated surplus and an estimated Fund Balance of about $6 million, roughly 21% of annual expenses.
The Marlborough Board of Finance voted unanimously July 20 to approve FY25–26 year-end transfers after a detailed review of preliminary financial reports.
Finance Director Tony Genovese distributed the transfer worksheets and reported, “There is a $43,000 anticipated surplus.” He also said the town’s Fund Balance is estimated to be around $6 million, which is about 21% of annual expenses. After brief discussion, Baird Welch-Collins moved to approve the transfers; Will Guzman seconded and the motion carried with all voting in favor.
Board members had no recorded objections to the transfers during the meeting. The Board’s approval covers adjustments recommended in the year-end reports; Genovese told members the office will continue to refine figures as the audit completes.
