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Townshend treasurer reports roughly $270,000 general-fund shortfall; fund balance and tax sales expected to help
Summary
The town treasurer told the Select Board that after paying school, highway and library obligations the general fund shows an approximate $270,000 shortfall, though approved fund balance and recent tax sales should narrow the gap.
During the treasurer's report, Townshend's finance staff said the town is under budget in the general fund but over budget in the highway fund; after accounting for required payments to schools, the highway and the library, the general fund showed an approximate shortfall of $270,000.
Treasury staff explained that approved fund balance provisions and tax-sales revenue realized in the last year should reduce the shortfall, and the board asked staff to follow up with the delinquent tax collector to pursue overdue revenues. The treasurer said the town is ‘‘in good shape’’ operationally but cautioned the headline numbers mask timing and cash-flow nuances when setting tax rates and closing the fiscal year.
