You can now read 5 articles in a month for free on BostonGlobe.com. Read as much as you want anywhere and anytime for just 99¢.

Cohasset

Special Town Meeting shifts cash

Continue reading below

A Special Town Meeting voted last weekend to wipe out the town’s free cash account — putting all $1.3 million into several different stabilization funds, according to town accountant Mary Gallagher. The meeting also approved placing an anticipated $600,000 revenue windfall into the stabilization accounts. The effect will be to earn higher interest rates in the stabilization accounts, Gallagher said. The action also means a new vote would be required to spend any money from the funds, she said. The Special Town Meeting was called by a citizens’ petition circulated by the chairman of the School Committee, who said he was frustrated by the selectmen’s inaction. Acting Town Manager Michael Milanoski had pushed for the meeting. The majority of selectmen had wanted to delay the financial decisions until a new town manager was in place, which they expect to happen in the next few weeks.

Loading comments...
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com
Already a subscriber?
Your city. Your stories. Your Globe.
Yours FREE for two weeks.
Enjoy free unlimited access to Globe.com for the next two weeks.
Limited time only - No credit card required!
BostonGlobe.com complimentary digital access has been provided to you, without a subscription, for free starting today and ending in 14 days. After the free trial period, your free BostonGlobe.com digital access will stop immediately unless you sign up for BostonGlobe.com digital subscription. Current print and digital subscribers are not eligible for the free trial.
Thanks & Welcome to Globe.com
You now have unlimited access for the next two weeks.
BostonGlobe.com complimentary digital access has been provided to you, without a subscription, for free starting today and ending in 14 days. After the free trial period, your free BostonGlobe.com digital access will stop immediately unless you sign up for BostonGlobe.com digital subscription. Current print and digital subscribers are not eligible for the free trial.