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Committee increases transfers to water and sewer funds to eliminate shortfalls
Summary
Staff increased the transfer to the sewer fund (to $39,400) and added a $6,300 transfer to the water fund to resolve cash deficits; the committee treated these as temporary fixes pending rate study and possible county fund exchanges.
The budget draft shows interfund transfers intended to close shortfalls in the town’s utility funds. Nicole told the committee the transfer to the sewer fund was increased from $30,000 to $39,400 and that a new $6,300 transfer from the general fund would resolve the water fund’s deficit. "The transfer in from the general fund of $6,300 to resolve the deficit," she said, noting the water fund’s revised total resources and requirements of $125,006.76 in the draft.
Committee members cautioned these adjustments are short-term measures and flagged the need for a rate study to examine longer-term sustainability; staff said increasing fees might cover recurring costs but likely would not erase structural deficits alone. The committee also discussed repaying interfund borrowing if a future exchange of county highway funds materializes.
