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Freeburg finance committee reports CD maturing, budget work continues as water balances rise
Summary
Trustee Tom Carpenter told the board a CD is maturing in July 2025 and the FY26 budget is being finalized; he also reported rising water fund balances and that backhoe quotes are still pending.
At the March 3 meeting Trustee Tom Carpenter, chair of the Finance Committee, summarized the committee’s Feb. 26 meeting. Carpenter said a certificate of deposit is due to mature in July 2025 and that work on the FY26 budget is nearing finalization; he also reported that water fund and account balances have been rising.
Carpenter said committee members had questions about board lists which were answered by Public Works Director John Tolan and Finance Clerk Laura Wolf, and that quotes for a backhoe procurement have not yet been received. "We have a CD coming due until July, 2025," Carpenter reported to the board, signaling a short-term cash-management item trustees will need to consider as part of the FY26 budget process.
