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Selectboard corrects Water & Sewer capital fund policy to show $1 million per fund
Summary
The Selectboard adopted a corrected Water & Sewer Capital Fund policy clarifying that each fund — Water and Sewer — should carry a $1,000,000 balance rather than a combined total; the board voted unanimously to approve the change.
Town Manager T. Marsh presented a corrected Water & Sewer Capital Fund policy that clarifies the town intends to maintain a $1,000,000 fund balance for the Water Capital Fund and a separate $1,000,000 balance for the Sewer Capital Fund, not $1,000,000 combined. The board discussed the policy and its intent before voting to approve the revision.
E. Caffrey moved to adopt the corrected policy and J. Johnson seconded; the roll-call vote was unanimous. The updated policy corrects the town's financial planning baseline for both utilities' capital reserves.
