USE OF FREE CASH

To see if the Town will vote to authorize the taking of a sum of money voted for appropriations heretofore made at the Town Meeting under the Warrant and not voted to be borrowed from available funds in the Treasury, and authorize the Assessors to use free cash in the Treasury to that amount in the determination of the tax rate for the Fiscal Year beginning July 1, 2024; or take any action related thereto.

Inserted at the request of the Finance Committee

VOTE: Unanimous

COMMENT: “Free Cash” or “Unencumbered Funds” is that surplus amount left after the close of a fiscal year. Once the funds are certified by the State Bureau of Accounts, they can be used for another fiscal year budget. It is the long-standing practice of the Town to use 50% of the available “free cash” in the next year after certification. This vote accomplishes that.

That the sum of $10,298,997 be taken from available funds in the treasury, and that the Board of Assessors is instructed to use said amount to reduce the tax rate.