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Town treasurer finds $1 million 'just sitting there'

KENT — At the Board of Selectmen’s meeting on Tuesday, June 1, Town Treasurer Barbara Herbst reported to the selectmen that she has discovered $1 million in a bank account left over from a Kent Center School construction bond.

“When the school was built and the money for the construction project was bonded, there was anticipation that the state was not going to help fund the project,� Herbst told the selectmen. “Subsequently, with the help of Sen. Andrew Roraback, the state did help to fund the project.

“The bottom line is that we have $1 million sitting in the bank that we can use for debt reduction for those [construction] bonds.�

Selectman George Jacobsen disagreed and said the funds were already spent.

“Over the course of the last few years, when the firehouse was being built, an amount was transferred [from the line] to the general fund in order to pay interest on the principal,� Jacobsen said.

Herbst disagreed with Jacobsen and insisted that the money “is just sitting there.�

Both Herbst and Jacobsen agreed to meet and discuss the issue.

“I hope you are right,� Jacobsen told Herbst. “But I don’t want to spend the funds twice.�

Lakeville Journal

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