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Board Of Finance Approves Edits To Fund Balance, Non-Lapsing Fund Policies

admin by admin
April 3, 2023
Home Finance
Two policies are almost ending the long road of deliberations by the Board of Finance — the Policy on Outside Agency Request for Funds and the Non-Lapsing Education Fund policy.
At its March 23 meeting, the finance board approved final edits and, according to Chairman John Madzula, are expected to approve both policies at its next meeting on April 10.
“These two policies are really getting back to the roots of the Board of Finance following the voters deciding to keep the board,” Madzula told The Newtown Bee on March 29. “That’s policy drafting decisions. Making policy is what the board is all about.”
The non-lapsing education fund policy is a revision to a policy started more than a decade ago and revised in 2014. In December 2022, Board of Education Chairman Deborra Zukowski noted that the Board of Selectmen and the Legislative Council had both signed off on the new policy, but the Board of Finance never had, possibly due to the changeover of members following the election, according to Madzula.

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