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1998-03-02-TE-Warrant-and-1998-03-23-STM-and-ATM-Warrant
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1998-03-02-TE-Warrant-and-1998-03-23-STM-and-ATM-Warrant
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2/27/2023 12:46:15 PM
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1998
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1998-03-02-TE-Warrant-and-1998-03-23-STM-and-ATM-Warrant Town Election Annual Town Meeting
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TOWN FINANCE TERMINOLOGY <br /> The following terms are frequently used in the annual town report and at the town meeting. In. <br /> order to provide everyone with a better understanding of the meaning, the following definitions <br /> are provided. <br /> AVAILABLE FUNDS - "FREE CASH" <br /> The amount certified annually by the Bureau of Accounts,Department of Revenue. The certified <br /> amount is the Unreserved Fund Balance less all outstanding taxes. This fund may be used by a <br /> vote of the town meeting as available funds for appropriation. <br /> AVAILABLE FUNDS - OTHER <br /> Usually refers to balances in special funds or to balances remaining in specific articles previously <br /> appropriated. These balances become available for re-appropriation by Town Meeting (or are <br /> returned to the town's general fund balance). <br /> "CHERRY SHEET" <br /> A financial statement issued by the State on cherry-colored paper that itemizes state aid due to <br /> the town, and charges payable by the town to the state and county. The assessors need the <br /> Cherry Sheet to set a tax rate. <br /> ENTERPRISE FUND <br /> A self-supporting account for a specific service or program that the town operates as a separate <br /> "business." Enterprise funds do not depend on taxes for operating revenue. For example, water <br /> operations are funded through the water enterprise fund,which receives funds from a <br /> consumption based fee system. Ideally, enterprise resources and expenditures should balance <br /> over time. Funds in enterprise accounts do not revert to the general fund at the end of the fiscal <br /> year. <br /> OVERLAY <br /> The overlay is the amount raised by the Assessors in excess of appropriations and other charges <br /> for the purpose of creating a fund to cover abatements granted by the Board of Assessors. <br /> RESERVE FUND <br /> This appropriation is voted at the annual town meeting in an amount not to exceed 5% of the tax <br /> levy of the preceding year. Transfers from the reserve fund are approved by the Appropriation <br /> Committee and may only be used for "extraordinary or unforeseen expenditures." <br />
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