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Selectboard moves $70,000 to disaster fund, $50,000 to garage reserve
Summary
Treasurer Becky Hoyt reported a highway fund balance of $163,907.29 and the board voted unanimously to transfer $70,000 to the disaster fund and $50,000 to the garage fund, leaving $19,907.29 in the highway account.
Becky Hoyt, town treasurer, told the Selectboard the highway account held $163,907.29 and that $24,000 had already been allocated for paving, leaving $139,907.29 available for reallocation.
"We have $163,907.29 in the highway budget and of that $24,000 was moved for paving," Becky Hoyt reported. After discussion, the board approved a motion to move $70,000 to the disaster fund, $50,000 to the garage fund, and to leave $19,907.29 in the highway fund balance. Mike McPhetres moved the allocation and John O’Brien seconded; the motion passed with all members voting in favor.
The transfers are intended to bolster the town’s reserves for emergencies and equipment needs; the minutes record no conditions on the transfers and no schedule for use beyond general fund purpose.
