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Treasurer/Finance update: revenues on target, $1M+ in special funds; options for $674K grant match discussed
Summary
Kim Seymour reported revenues and expenses are generally on target and that the town holds more than $1 million in special funds. The board discussed pursuing a $3M grant and considered options to cover a possible $674K local match if the grant is awarded.
Town finance reporting showed revenues and expenses generally tracking below budget in most areas, and more than $1 million in special funds was noted as a reserve.
"Revenues and expenses were generally on target and below budget in most areas," Kim Seymour told the Selectboard and said additional seasonal deposits are expected. Seymour also asked that paperwork relating to FEMA reimbursements (retaining wall and category Z payments) be shared with the treasurer’s office so staff can pursue those reimbursements.
Separately, the board discussed a voter‑authorized push to pursue a $3 million grant. No decision was made about how to fund the town’s potential $674,000 share if the grant is awarded; options discussed included taking out a loan, issuing bonds, or borrowing from special funds and repaying the account if necessary. The Selectboard agreed to review funding options if the grant is awarded.
