Call To Order
The Chairman called to order a meeting of the Holland Finance Board at 7:00 P.M. on November 16, 2016 at the Holland Town Hall.
Roll Call
Finance Board members present were: Ernie Fancy, Don Laing, Joe Yiznitsky, and Mike Brady. Absent John Ebersold. Guest Andy Harhay.
Approval of Minutes
The minutes of the November 2, 2016 meeting were approved.
New Business
Review 11/03/2016 Letter to the Finance board from thje Account
Subject: Holland Town Meeting Votes.
Letter attached to the minutes.
After the annual town meeting to transfer funds into the following stabilization accounts there were additional expenses causing a deficit.
$52,089. Dam Maintenance to Dam Stabilization.
$11,200 FY16 ReVal to Cyclic stabilization.
$ 23,800 FY16 ReVal to 2017 ReVal.
The Finance board is not clear as to what should be done in the future to prevent this since it is the first time we have had this problem.
We are confused with the DOR statement, “It would just be easier to let the article roll forward.” When do the funds roll forward and when do they go to free cash?
Also discussed was the general impression that the Town approves a line item budget and the accountant says we approve a salary and expense budget.
Open Issues
After discussion of these items Andy suggested that the accountant attend a Finance Board meeting to clarify these issues.
Review of the Vadar FY15 Ledger History - Variance – Expenditure Ledger show a budget of $6,630,823 versus the Finance Board’s budget of $6,614,,783. Further investagtion will be require to determine what these differences are.
Next Meeting
The next meeting will be held at 7:00 on Thursday, January 12, 2017.
Adjournment
The Chairman adjourned the meeting at 8:30 P.M.
Minutes submitted by: Ernie Fancy, Chairman
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