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Selectboard rescinds Jan. 8, 2025 fund balance policy after VLCT guidance
Summary
Following advice from the Vermont League of Cities and Towns (VLCT), the Selectboard moved Oct. 29 to rescind the fund balance policy adopted Jan. 8, 2025, and will retain the unrestricted reserve balance as previously voted at Town Meeting.
The Putney Selectboard on Oct. 29 considered draft financial policies and reviewed guidance from the Vermont League of Cities and Towns recommending the town keep its unrestricted reserve fund balance as established at the last Town Meeting. Fletcher Proctor moved to rescind the fund balance policy adopted Jan. 8, 2025; Peg Alden seconded and the motion passed.
The board did not adopt a new fund balance policy at the meeting; members agreed to follow VLCT advice and to continue drafting other financial policies for future consideration.
