MINOT — Town Administrator Danielle Loring recommended to selectmen Monday night six policies on town finances. They are:

• Adopt a policy regarding the Undesignated Fund Balance to ensure there’se enough money for emergencies;

• Adopt a policy for when funds from one account can be used to cover unexpected expenditures in another;

• Follow cash management policy procedures regarding dating, payment and sign-off of invoices;

• Consider guidelines for using the Herbert Shaw Savings Account that helps residents in need when an agency such as the American Red Cross or state assistance is unavailable;

• Adopt an investment/deposit policy; and

• Consider investment opportunities for savings accounts, such as perpetual care funds and scholarships.

Selectmen tabled accepting the fiscal year 2017 audit by Smith & Associates until the year-end payments and expenditures are done and there is clarification on certain general accounting practices that Loring requested.

In other business, selectmen renewed the contract with the Androscoggin County Sheriff’s Office for dispatching services.

Selectmen said they want to meet with the Budget Committee to clarify a $2,500 appropriation for Community Day activities. Selectmen recently recommended the expenditure for the 2019 budget while the Budget Committee voted no recommendation.


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