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The Board of Finance voted 5-0 to authorize transferring $690,000 from the General Fund balance to the Capital Equipment/Improvement Fund, subject to Board of Selectmen approval on July 6. The amount is intended to reduce the need for future mill rate increases and is below the $690,845.75 charter limit.
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Granby could place $690,000 into its capital fund rather than use the money for other current spending. The move is intended to help pay for future equipment and improvements and lessen pressure for future property-tax rate increases. The transfer still requires approval by the Board of Selectmen.
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