What is a reasonable allocation
Saratoga Town Council told enterprise funds are restricted, but also told of unapplied allocations over past 20 years
May 27, 2020
Enterprise funds managed by the Town of Saratoga are restricted but those funds should have also been charged an overhead interfund allocation. That appears to be the argument presented by James Childress, the accountant engaged by the Saratoga Town Council, during the May 19 meeting of the governing body.
Over the past several weeks, Councilmember Jon Nelson has been determined in his argument that approximately $1.2 million of enterprise funds were essentially “stolen” to prevent a general fund deficit. A February 28 email from Childress (see “Casting a dissenting vote” on page 1...