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Rico board approves Quarter 4 financial review, asks manager for fund-spending summary
Summary
The Rico Town Board unanimously approved its Quarter 4 financial review and directed the town manager to provide a future summary explaining how different funds may be spent, a move intended to clarify restrictions and options across accounts.
The Rico Town Board on Jan. 15 approved its Quarter 4 financial statements and asked staff for clearer guidance on how various town funds can be used. Mayor Pro Tem Cristal Hibbard moved the approval, and Trustee Benn Vernadakis seconded; the roll-call vote was 7-0.
Mayor Patrick Fallon and the Town Manager summarized account positions during the meeting; the board asked the manager to provide additional detail at a future meeting about spending rules and fund restrictions. As recorded in the minutes, the board directed that “Town Manager to provide a summary of how different funds can be spent at a future meeting.”
The action was procedural and carries no direct fiscal action beyond accepting the financial review. The approval keeps routine accounting work moving toward year-end close and provides staff with a follow-up assignment to improve transparency about fund-specific spending authorities.
