August 10, 2016

A Killington riddle

Dear Editor,
This riddle is about our town finances.
Article  3 from the March 2015 Town Meeting stated: “Shall the voters approve total general fund expenditures for the 18-month budget beginning January 1, 2015 through June 30, 2016 of $6,282,554 of which $243,550 shall be applied from the 2014 general fund balance, $3,732,950 shall be raised by property taxes, $2,082,277 in estimated non-property tax revenues, and $223,778 in estimated FEMA/Flood reimbursement?”
According to the Select Board Meeting Aug. 2, 2016, item no. 7, “June 2016 financial reports and year-end closeout,” the board stated our expenses were $250,000 less than budgeted and our revenue was $45,000 more than budgeted.
So if we received in more than we budgeted and spent less than we budgeted, then why did we need to borrow $900,000 at the end of June? Could someone please answer this riddle.
a. We’re actually in debt
b. It’s  a cash flow problem
c. The select board is confused
d. All of the above
Jim Haff, Killington

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