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Board debates fund‑balance targets after unexpected year‑end surplus
Summary
The selectboard reviewed a larger‑than‑expected fund balance and discussed whether to adopt a policy (e.g., 15% of budget) to guide decisions on reserves versus tax relief; members asked staff to prepare options ahead of the November budget cycle.
Board members reviewed year‑end accounting that showed a larger than anticipated fund balance (discussion referenced roughly $150k–$200k after a one‑time return). Members debated whether to adopt a formal fund‑balance policy and what percentage of budget to reserve — examples included 10–15% — and whether some funds should be moved into a reserve or returned to taxpayers.
"You definitely want a balance, but how high do you want that number to get before we say, okay, taxpayers or you want to use it?" one member asked. The board asked staff to model options (percent targets and scenarios), and to return with recommendations by the first November meeting for consideration during the next budget cycle.
