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Board reviews $179,000 in cash‑on‑hand and debates reserve allocations vs. tax impact
Summary
The Select Board reviewed roughly $179,000 in cash assets and discussed options — boosting reserves (tax anticipation, reappraisal), funding special projects, or reducing the tax increase — while noting timing and statutory constraints for some funds.
Chair (S1) presented the town’s cash position and said roughly $179,000 represents cash assets available after proposed allocations; he explained the difference between cash on hand and tax‑derived assets and suggested several possible uses, including putting $40,000 into the tax anticipation reserve or allocating funds for grant matches or special projects.
Board members debated whether to bolster reserve funds, spend on a special project, or leave the amount for the next board to decide. S3 and others noted statutory limits and the timing of tax anticipation needs; the chair emphasized the importance of not shortchanging future work while keeping the proposed tax increase near the packet’s estimates (discussion noted a draft tax increase around 3.7–3.9%). The board asked staff to present concrete allocation scenarios at the next meeting.
