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Board of Assessors Meeting Page <br /> The overla Reserve (continued) <br /> Member, is to avoid the appearance that the Assessors are trying <br /> to sit on this large sun of money in the Overlay Reserve* <br /> Chairman Greig again expressed strong opinion, that the letter, <br /> signed by each Assessor, should be sent not only to the Board of <br /> Selectmen but also to the Finance Committee. Be explained that <br /> in this fashion, nobody will get into "hot water" . More <br /> discussion followed. <br /> David Bailey recommended that the letter not be sent <br /> until after July l. t; otherwise, the funds would tura into Free <br /> Cash. A simple letter as follows should be adequate: <br /> "We at this time have one Million Dollars sitting in <br /> Overlay Reserve that we plan to transfer to overlay <br /> Surplus . Is there any reason why we should not do it <br /> at this time?" <br /> Marcia Kind asked if the transfer has to be certified. <br /> . Balley explained that the appropriation can be crude directly <br /> from Overlay Reserve to overlay surplus . • . it aces not have to <br /> become Free Cash from which an appropriation must wait to be <br /> certified in October after Town Meeting . In this manner, if <br /> immediate funds are needed, overlay surplus can be used. <br /> Mr. Bailey informed Board Members that he will await <br /> their direction on this matter . . . presumably, The Board would <br /> want this action to take place after July 1st, unless It wants <br /> notification seat prior to July 1st to afford the option to <br /> change the funds to Free Cash. More discussion followed. <br /> Both Chairman Greig and dice Chairman Porten agreed the <br /> money should be made available after .duly lst; they expressed <br /> opinion that the Free Cash option would be a poor alternative. <br /> David bailey expressed the same opinion. Marcia King expressed <br /> opinion that she would prefer to notify the Board of Selectmen <br /> and the Finance Committee now that the money will be available <br /> after July 3rd. she inquired if this type of directive is <br /> possible . Mr. Badley explained that if Assessing states the <br /> money is available now, the Board of Selectmen ca'n demand that <br /> .Assessing transfer it immediately. <br /> Marcia King stated that there is a lot of money in Free <br /> Cash right now there will be Free- Cash left over from 1996 <br /> by the time October arrives , there will probably be close <br /> to one Million Dollars . Mr. Bailey expressed feeling that <br /> sometimes problems arise trying to get funds certi <br />