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NARRAGANSETT â€“ The Narragansett Town Council continued to mull over crucial issues at their regular meeting on Monday evening. Of particular concern for members was the approval of the fund balance policy and a resolution to delegate the authorization of assigning the fund balance to the town manager.
Finance Director Laura Kenyon explained the amendments to the fund policy which will include a 10 to 16 percent balance threshold to be maintained by the town. Kenyon informed the council that if the balance drops below 10 percent or rises above 16.7 percent, the town manager must come before the council to report on the change and to receive further direction on its future handling.
Narragansett resident Stanley Wojciechowski voiced his concerns over allowing any one town official to have sole authority over the fund balance.
For more of this story pick up a copy of The Narragansett Times.