Ashland Boasts $12.1 Million In General Fund Reserves
Recently, our Town Management released their “Record of Fiscal Stewardship.” Management seemed really proud that they (with our tax dollars) had put a way millions on the current administration’s watch. 855% growth!!
Ashland has $12.1 Million in money that can be used for a “rainy day.” I’m not sure it is actually raining, but since the administration proclaims it is, why don’t they use some of their $12.1 million of our monies that we already gave them?
Telling us they have no money when they actually have a lot of money (and tons of new development coming in. Mentioned as potential 4 million by this administration) feels a bit disingenuous.
See the graph below:
Definition of Unassigned Fund Balance:
*”Unassigned fund balance is the residual classification for the government’s general fund and includes all spendable amounts not contained in the other classifications, i.e. everything left over once the total amount has the following subtracted: non-spendable, restricted, committed, and assigned funds. That’s not a very easy-to-understand definition, so, perhaps, the best way to think about the unassigned fund balance is the “money available to prevent a cash-flow issue.”
– Julie Nardone, Ashland Town resident