Resolutions in Response to the Comptroller’s Audit

Town Board Fund Balance Policy

Whereas, it is understood that the Town Board should have a fund balance policy that establishes reasonable levels of fund balance to be maintained in each fund in order to meet the Town’s needs,

Whereas, the Town Board believes it is poor policy to use non-recurring revenues or fund balances to pay for recurring expenses,

Whereas, the Town Board wants the actual recurring revenues to very closely match the actual recurring expenses, thereby, not generating large fund balances,

Whereas, it is understood that from time to time unexpected revenues or unexpected cost savings can generate significant fund balances,

Therefore, be it resolved that

• the annual budget will have total planned recurring expenditures exactly equal total expected recurring revenues, 
• based on historical data the planned revenues and planned expenses in the budget will reflect our best estimates of the actual revenues and expenses,
• contingency funds will be budgeted to mitigate the risk associated with unexpectedly high expenses and/or low revenues,
• the Town Board sets no specific dollar limit on how much money can be accumulated in a fund balance, and
• fund balances which accumulate will be used to offset costs of non-routine purchases and special projects at the discretion of the Town Board,

Town Board Multiyear Financial Plans

Whereas, it is recommended that the Town Board adopt comprehensive multiyear financial and capital plans, including when to use accumulated fund balances in a manner that will benefit taxpayers,

Whereas, snow removal is a high priority safety concern for the Town,

Whereas, a very reliable fleet of snow plows and associated equipment is necessary to ensure the timely removal of snow,

Whereas, equipment not needed for snow removal does not have to be as reliable or new as snow removal equipment,

Therefore, be it resolved that :

• depending on their condition ten-wheel snow plows should generally be replaced after twelve years of use,
• the Town will maintain two loaders, at least one of which should be very reliable,
•  equipment not directly related to snow removal will be maintained in a serviceable condition and replaced only as necessary, and
•  fund balances may be used for equipment purchases at the discretion of the Town Board.

Town Board Reserve Policy

Whereas, the Town Board should adopt a policy for establishing the funding and use of reserves,

Whereas, money put in a reserve can only be used for the stated purpose of the reserve,

Whereas, in order to maximize efficiency of use of tax dollars maximum flexibility must be maintained,

Therefore, be it resolved that

• the Town Board elects to use accumulated fund balances for unexpected expenses,
• from time to time the Town Board will add money to a Bridge Reserve, and
• the Town Board will put money in other reserves only in exceptional circumstances.