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Friday, June 23, 2017

Advisory Meeting Update

Advisory Meeting Update

The Advisory Committee met on June 21, 2017. One of the agenda items was to discuss and vote on a transfer request from the Board of Selectmen.

After discussion, the request for this transfer was defeated by a vote 5 No to 2 Yes.

The Advisory Committee has asked for updated budget to actual (BvA) on numerous occasions. This document - BvA - has important data regarding the budget figures for each town department and account. This advisory committee member, Julie Farrell, wants to to know what the figures are in the accounts BEFORE approving  a transfer.

Given the sketchy track record of the current TA and BoS, I believe it is the obligation of advisory committee members to make sure there is money in the accounts from which the transfer would take place.

Sketchy Track Record - in April 25, 2017 the Financial Management letter was released.   

At that meeting and subsequent meetings no mention was made of the change in the stabilization figure. Everyone went into the Annual Town Meeting thinking there was $142,326.99 in the stabilization account.

Stabilization Account  blog posted  June 6, 2017.
New figures are given for the stabilization accounts:

2:35 PM (4 hours ago)

to MA, Kelli, Beverly, Jeff, me, Paul, Wilfred, Cameron, Doug, Diane, John, Julie
Good Day:

Per your request; the balances we now show, as a result of the audit(s) for the several stabilization funds are:

General Stabilization        $95,334.28
Pajari Stabilization              $9,263.90
Capital Stabilization            $1,958.95

Total                                  $106,557.13

Many Thanks

Carter Terenzini
Interim Town Administrator
Town of Templeton
160 Patriots Road
East Templeton, MA 01438
(978) 894-2753

Let's put this situation into perspective:

If you had a bank account(Stabilization) that had $142,326.99 in that bank account and then you were informed that that bank account really only had $95,344.28, wouldn't you ask questions? Wouldn't you want an explanation?

Then you go back to that same bank to make a transfers from  different accounts, wouldn't you want verification of the amounts in those accounts BEFORE you authorize that transfer? Especially since you never received an explanation on how $142,326.99 was reduced to $95,344.28?

Julie Farrell

Blogs from the past:

The Pillars of the Budgeting Process 

A Trip in the Way Back Machine 

Here are some snippets from the management letter. 

Audit Meeting



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