Free Cash

Post date: Nov 16, 2018 5:34:27 PM

You received via email a notification regarding Free Cash. I'm working with Anna to put together a potentially more helpful analysis of this for December 10 meeting. The headline is that we are still in a solid cash position due to good performance in some key areas, but tempered with the knowledge that some of these are likely not sustainable and recurring (i.e. large new construction projects, balance sheet clean-up, etc.)

I'd also note the very limited balance in trash disposal enterprise fund which will likely pose a challenge in the coming year as we deal with dramatically increasing recycling costs.

Massachusetts Department of Revenue Division of Local Services

Christopher C. Harding, Commissioner

Sean R. Cronin, Senior Deputy Commissioner of Local Services

11/16/2018

NOTIFICATION OF FREE CASH APPROVAL - Town of Williamstown

Based upon the un-audited balance sheet submitted, I hereby certify that the amount of available funds or "free cash" as of July 1, 2018 for the Town of Williamstown is:

This certification is in accordance with the provisions of G. L. Chapter 59, §23, as amended.

Certification letters will be emailed to the mayor/manager, board of selectmen, prudential committee, finance director and treasurer immediately upon approval, provided an email address is reported in DLS' Local Officials Directory. Please forward to other officials as you deem appropriate.

Sincerely,

Mary Jane Handy

Director of Accounts

Massachusetts Department of Revenue