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NARRAGANSETT - The Galilee Advisory Committee discussed the special revenue fund, Fund 43, during a meeting Tuesday.
Committee member William Scott explained the history of the fund with the town of Narragansett and how the town has previously transferred money for various uses.
âIn 2011-2012 fiscal year the town of Narragansett transferred $475,000 out of the fund. Which the explanation was it paid for police, fire, other various expenses that the town had incurred in prior years that had never been taken out of the fund and this was a catch up,â said Scott. âIt pretty much eliminated the fund balance.â
Member Barry Keinard stated that the town of Narragansett posted an ad in the June 14 issue of the Narragansett Times stating that the town had used $49,530 for Kinney Bungalow expenditures. This budget was acted upon on July 1, 2012 and the details of these expenditures included building maintenance and repair.
Although the committee has received a document stating the transactions from Town Manager Rich Kerbel, many of the members of the committee are still confused as to what the main purpose of the fund is.
âIt would be nice if someone could really explain what this truly is, from the town,â said Scott.
For the rest of this story and more local news, pick up the Friday, August 16 issue of the Narragansett Times.