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Chatham village told it can make loan to itself, but it has to be repaid

Jun 25, 2018 12:45 pm
Emilia Teasdale is reporting for The Columbia Paper at the June 14 Chatham Village Board meeting village accountant Robert Patterson advised that a private audit of village finances could cost as much as $30,000. Patterson also said if state auditors reviewed the books, they would just review internal systems and, he said, those "are fine." Patterson also explained during the public meeting that the board can lend money from the general fund to the water and sewer departments to cover the existing deficit, but the funds would have to be repaid. The village is currently running a deficit of approximately $370,000 for water and sewer services. Village Treasurer Barbara Henry said using funds from the general fund would suffice for the short term as long as the village is taking some action to increase revenue for water and sewer services. She said the state wants to see “the village is doing something to reduce the deficit.” In May, the village increased water and sewer rates by 65 percent, effective June 1. Read the full story in The Columbia Paper.