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Town creates Fisher Drive property fund and approves $213,074 initial appropriation
Summary
The Board established a special revenue fund to track 200 Fisher Drive lease revenue and approved a $213,074 supplemental appropriation for FY25/26 to record initial rents and expenses; the Town Council previously approved the fund's concept.
Avon created a special revenue fund for the 200 Fisher Drive property and approved a $213,074 supplemental appropriation to record anticipated lease revenue and related maintenance expenses for FY25/26.
Tom DiStasio told the Board the fund would segregate tenant lease revenue and Board of Education contributions so those cash flows and costs can be tracked separately rather than in the general fund. "We are recommending the establishment of a special revenue fund for the 200 Fisher Drive property," the minutes state. The Town Council had previously approved the fund concept.
Micah Rousey moved and Brian Loveless seconded both the establishment of the fund and the FY25/26 appropriation; the minutes record a unanimous 6-0-0 vote. Board members asked whether the Board of Education had decided what to do with its existing building; Tom DiStasio replied no determination had been made and that a physical move into the new building was expected in early October.
