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Hopkinton board approves multiple year-end budget transfers and moves funds into reserves
Summary
Board approved transfers including $22,969.60 from General Savings to bridges- contractual and several reallocations into road repair, bridges and equipment reserves as part of year-end budget adjustments.
During its Dec. 30 session the Hopkinton Town Board approved a set of year-end budget transfers intended to reconcile accounts and seed reserve funds. Supervisor Wood proposed transfers including $372.25 from A8810.4 (Cemetery-Contractual) to DA5110.4 (Fuel), $43.04 from A1990.4 (Contingency) to A1320.4 (Auditing/Accounting - Contractual), $1,549.69 from DA5110.4 (General Repair-Contractual) to DA5140.4 (Misc.-Contractual), and $22,969.60 from General Savings to DA5120.4 (Bridges-Contractual).
The board also approved larger reserve transfers later in the meeting: $17,000 from DA5110.4 (General Repair) to DA233 (Road Repair/Maint. Reserve); $25,000 from DA5142.4 (Snow Removal) to DA233 (Road Repair/Maint. Reserve); $14,000 from DA5120.4 (Bridges) to DA232 (Bridges Reserve); $35,000 from DA5130.2 (Machinery) to DA230 (Equipment Reserve); and $21,000 from DA5130.4 (Machinery) to DDA 230 (Equipment Reserve). Ms. Rust moved to approve the transfers and Ms. French seconded; the motions passed unanimously.
