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Bedford reviews third-quarter finances; $16.4 million in cash, mixed trends
Summary
Town staff told the Bedford Town Council the town held $16.4 million in cash across all funds as of March, with the general fund positive year‑to‑date but mixed trends including a notable dip in electric reserves.
The Bedford Town Council heard a third-quarter financial review in which staff reported the town held "$16.4 million across all of our funds" as of March and highlighted both positive and negative trends for the fiscal year.
The presenter said general fund year-to-date revenue was about $8.9 million with $8.4 million in expenses, leaving the general fund net positive so far. Staff also explained that several large grants have been moved into the general capital projects fund to avoid inflating operating-year expenses; examples cited included a hospital generator project and a CDBG phase. Councilors asked clarifying questions but the session served as a status update and no formal votes or motions were taken.
The review identified restricted cash in capital project accounts and other dedicated funds such as the cemetery perpetual care fund, and staff said those restrictions explain why cash-on-hand levels differ from operating balances. Staff committed to providing more detailed backup spreadsheets and to return with budget-related follow-ups at the upcoming budget meeting.
