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Belgrade approves transfer of up to $35,209 to cover midyear budget overdrafts
Summary
The town authorized the board of select persons to transfer up to $35,209.25 from the undesignated fund to cover overdrafts in the six-month budget ending June 30, 2026. Officials said the workers' compensation omission has been corrected for the 2027 budget and that there were no claims.
Belgrade voters at a special town meeting approved Article 2, authorizing the board of select persons to transfer and appropriate up to $35,209.25 from the undesignated fund balance to cover six-month (Jan. 1–June 30, 2026) budget overdrafts.
A town representative told the meeting the request came on the recommendation of the town lawyer to close out the six-month budget. The speaker itemized overdrafts totaling $35,209.25: $12,246.25 in the planning board reserve account; $14,570.74 from a debt-service miscalculation; and $8,392.26 for workers' compensation that had not been budgeted. The speaker said the transfer will come from the undesignated fund (stated balance $2,995,328) and that taxes would not be raised to cover these overdrafts. Resident Sheila King asked whether the workers' compensation omission had been corrected; the response given at the meeting was, "The insurance wasn't budgeted for in the 1st place. It has been corrected for the 2027 budget, and, there were no claims." The moderator then called the vote and declared the article passed; the transcript does not record a numerical tally for that vote.
