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Taxes receivable at June 30, 1997 consist of the following (in thousands): <br /> Real Estate <br /> 1997 $652 <br /> 1996 260 <br /> Prior 81 <br /> $ 993 <br /> Personal Property <br /> 1997 48 <br /> 1996 40 <br /> 1995 25 <br /> Prior 55 <br /> 168 <br /> Tax Liens 2,489 <br /> Tax Possessions 242 <br /> Deferred Taxes 30 <br /> i <br /> Total $ <br /> I <br /> 6. Warrants and Accounts Payable <br /> Warrants payable represent 1997 expenditures paid by July 15, 1997 as <br /> permitted by law. Accounts'payable represent additional 1997 expendi- <br /> tures paid after July 15, 1997. <br /> 7. Anticipation Notes Payable j <br /> The Town had a $ 500,000 bond anticipation note outstanding at June 30, <br /> 1997 for "Bufflehead Bay Land". The note matures in March, 1998, with <br /> interest at 4.1%. <br /> 8. Deferred Revenue <br /> The balance of the General Fund deferred revenues account is equal to the <br /> total of all June 30, 1997 receivable balances, except real and personal <br /> property taxes that are accrued for subsequent 60 day collections. The <br /> Town's statutory "allowance for abatements and exemptions" (overlay) <br /> account, with a balance of$ 1,432,469 has been reclassified to deferred <br /> revenue for reporting purposes. <br /> 13 <br />