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Trustees report $89,526.11 loan balance; board asked for documentation of $75,000 transaction
Summary
The Trustees of Public Funds reported an outstanding loan balance of $89,526.11 and noted that this total does not reflect a $75,000 payment the town previously approved for release; trustees asked the town treasurer for supporting documentation and the Selectboard will continue the review in November.
At the meeting the Trustees of Public Funds reviewed loan interest and outstanding balance and asked the Selectboard to help reconcile historic payments. Sylvia Jensen, chair of the Trustees, stated that “the total balance due under the note is $89,526.11,” and that the figure shown does not reflect a $75,000 payment previously made by the Town and approved for release at the October 2 meeting.
Pat Treckman requested that Ms. Jensen supply additional documentation to the Town Treasurer to substantiate the newly advised shortfalls. The Selectboard did not resolve the discrepancy at the October 16 meeting and scheduled continued review at a November meeting to reconcile accounting records and outstanding payments.
