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Hope someone out there can provide some input.
borrows in anticipation of taxes on July 1 of each fiscal year, with payment
due on June 30. Unfortunately, the
town usually has a negative cash flow on June 30 so we use the proceeds of the
next loan to pay off the current one.
How do other towns handle this?
Are there other options for handling cash flow shortages during the year?
Your input will be greatly appreciated as this issue is
being blown out of proportion, as do so many issues in small town government.
Sherrill – Town Treasurer