To see if the Town will vote to transfer from available funds the sum of $25,000 (Twenty-five thousand dollars), pursuant to any applicable statute, to the Town’s stabilization fund; or do or act relating thereto.
Sponsor: Board of Selectmen
Summary: Although significant free cash funds are being drawn upon to balance the FY08 budget, the Board of Selectmen, Advisory Committee, and Finance Team recommend the Town allocate $25,000 from available funds to the Town's stabilization fund. The stabilization fund may be drawn upon to offset the need for a future override, or to assist with a future capital purchase. As of 1/31/07, the balance in the stabilization fund is $887,356.65.
Board of Selectmen Recommendation: Approved
Advisory Committee Recommendation: Approved
Vote Required: 2/3 majority
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