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----- Original Message -----From: [log in to unmask] href="mailto:[log in to unmask]">Sherrill GouldSent: Wednesday, April 07, 2004 2:24 PMSubject: TAX ANTICIPATION BORROWING
Hope someone out there can provide some input.
currently 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? Windsor
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