Selectboard discusses creating a reserve fund and setting aside money for Quaker Village Road
Members discussed establishing a town reserve fund for unanticipated capital needs, possibly seeding it with insurance or ARPA funds, and suggested an initial road-repair reserve of $25,000 to begin addressing the town’s share of Quaker Village Road work.
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Board members and staff discussed creating a general reserve fund to cover unanticipated capital needs and suggested seeding the fund with insurance proceeds or a modest initial allocation rather than making a large immediate commitment. The discussion included whether to make the fund a capital building fund or a general reserve and how to set thresholds for annual contributions and sunsets on funding contributions.
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