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Selectboard reviews options to spend $164,000 from property sales and manage large fund balance
Summary
Selectboard discussed two options for the $164,000 in property‑sale proceeds — place an article on Town Meeting warning for voter approval or expend transparently as part of capital projects — and heard a recommendation to plan spending down the operating fund balance to under $500,000.
Amanda contacted Selectboard member Brian Dubie about how best to use proceeds from last year’s property sales, which totalled $164,000 prior to interest. Amanda outlined two lawful paths: include an article on the next Town Meeting warning to ask voters to authorize use of the funds, or expend the proceeds openly as part of a capital project to reduce the tax burden. The Selectboard discussed prioritizing long‑lived infrastructure projects over equipment purchases if the funds are spent administratively.
On the town's operating fund balance, Amanda recommended the Selectboard plan to draw it down so it does not grow well above $500,000. Town Administrator Cathy Ainsworth noted the accumulated fund balance provides flexibility and can avoid interest costs from tax anticipation loans. No formal vote was taken; the board agreed to consider planned uses and public reporting at Town Meeting.
