NORWAY — The Board of Selectmen will revisit voting on a new undesignated fund balance policy at its meeting Thursday, April 6.
The meeting begins at 7 p.m. at the Town Office.
Selectmen tabled the vote after Selectman Thomas Curtis said he wanted more time to look through the policy options presented to the board by Town Manager David Holt.
Holt told the board at its March 16 meeting that Norway has “done well” by keeping a “larger surplus than most surrounding towns,” and as a result, “we’re getting to the time when policies — like the undesignated fund balance policy we have now — need to be updated.”
He suggested to the board that the town institute a policy that would require the undesignated fund balance to be set at an amount equal to what it costs to operate the town for two months, rather than three, as auditors have recommended.
Other items on the agenda include:
• Public hearing on an outdoor festival application for the Run for Wellness 5K Walk/Run;
• Appointments to the Budget Committee; and
• Acceptance of a $2,773.60 reimbursement from the state of Maine.
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