Cohasset: Special Town Meeting to vote on transferring $1.6 million in excess funds

Tomorrow Cohasset residents will vote on six warrant articles on a Special Town Meeting warrant.

Selectmen initially were not in favor of holding a Special Town Meeting, but a citizen’s petition forced them to schedule the meeting to allocate some $1.8 million in excess funds.

The citizen’s petition was sponsored by School Committee Chairman, Paul Schubert. The articles would transfer $1.8 million that is currently sitting in free cash and excess funds, into the town’s stabilization fund, a road-repair account and the town’s post-employment benefits liability trust fund.

Acting Town manager Mike Milanoski initially rejected the idea of the Special Town meeting, but changed his mind after the town received more state aid than expected.

Milanoski said that transferring the money to the stabilization account and the retirement trust could earn as much as $74,000 in interest.

Tomorrow’s Special Town meeting is from 9:00 a.m. to Noon at Cohasset High School.

 

About David Skill

Dave Skill’s radio career began in the fall of 1964 when he arrived on the campus of Holy Cross College in Worcester, MA. Dave barely got his bags unpacked when he paid a visit to WCHC, the campus radio station. And, before he knew it, he was spending so much time as a disc jockey and news writer/reporter, it seemed like he was majoring in “radio” and minoring in academics at “The Cross”. As you might imagine, his grades reflected it! During his junior and senior years, he also worked weekends in news and as a disc jockey at WNEB, the CBS radio affiliate in Worcester at the time.