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Board transfers auction proceeds to Heavy Equipment Fund
Summary
The Town transferred $34,450 plus an additional $35,000 from the sale of an excavator and attachments into the Heavy Equipment Fund under Resolution #82; the resolution passed with board members voting to adopt the transfer.
Supervisor Corcoran proposed a transfer of auction proceeds into the Town’s Heavy Equipment Fund at the Oct. 28 meeting. The resolution (Resolution #82) specifies transferring $34,450 into the Heavy Equipment Fund from auction receipts and an additional $35,000 from the sale of the excavator and attachments that were sold to the Water Department.
The motion was adopted with Yes votes recorded for Councilman Molinelli, Councilwoman Sessa, Councilman Cauchi and Supervisor Corcoran; Councilman Zambito was absent. The funds will be placed into the Heavy Equipment Fund as town policy allows sales proceeds to be earmarked for capital replacement.
