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Treasurer: town under budget after FEMA reimbursements; board to move funds to cover FEMA project timing
Summary
Brookfield's treasurer reported the town sits roughly $695,040.68 under budget after FEMA reimbursements; the board discussed transferring up to the statutory limit into the highway fund to bridge contractor payments while FEMA reimbursements are finalized.
The Treasurer reported the town is "currently sitting at $695.01 $40.68 cents under budget with the FEMA payout," noting that figure includes the warrants just approved. The Chair said the board needs to decide how much of the available balance to move into reserve or return to taxpayers for the coming tax year.
To avoid taking a loan while FEMA-funded road projects proceed, the Chair suggested moving the permissible share of general-fund dollars (roughly 10'15% as the board discussed) into the highway fund to create liquidity for contractor payments until reimbursements are received. "We can balance our budget in that respect," the Chair said, describing the proposal as a short-term cash-management step to bridge timing differences.
Board members emphasized the need to track outstanding invoices and to include any late bills on the upcoming Monday warrants list so costs can be captured in the current fiscal year. The Treasurer noted there were no anticipated substantial outstanding items beyond payroll and the humidity-control work at the town garage; the board agreed to finalize specific transfers at the next meeting after confirming exact totals.
