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Tinmouth Select Board approves separate reappraisal reserve account
Summary
The board authorized creating a dedicated reappraisal reserve account and directed the chair to open it with the bank; funds previously kept in general checking will be moved into the special reserve.
Select board members voted to move the town’s reappraisal money into a dedicated reappraisal reserve account and authorized the chair to complete bank paperwork. One board member explained the money had been left in the town’s general checking account for cash-flow purposes and the new account will segregate the funds for appraisal use only.
The motion to open a reappraisal special reserve account passed by voice vote; members clarified that the funds can only be used for appraisal expenses and will earn interest in the designated account. The board asked the town administrator to provide the account details and report back with confirmation once the bank set up the account.
