To the editor:

From the stage at the Newbury annual Town Meeting article votes at Triton High School auditorium Tuesday night was referenced our "free cash" account, the monies of which are always of citizen voting concern.

By accounting definition, free cash flow represents the cash a company generates after accounting for cash outflows to support operations and maintain its capital assets; the Town of Newbury is not a private enterprise.

Our town Select Board, FinCom and town administrator leadership use of the term advocates the implication there is such a notion as free cash for our town: Our public monies being taxpayer generated, not derived of private company profit, makes the identification of such as free nonsense.

Our world today exists where perception often overrules reality.

I submit to our Newbury leadership the continued use of the accounting term should be absolutely changed on citizens' behalf to what these monies are in fact generated from for a municipality, this so the deposits and withdrawals of citizen tax monies accrued then proposed by Newbury leadership to be advanced for any resident cause can be identified from an account name that bears of what the fund holds: "taxpayer savings account."

Jack Rybicki


Trending Video

Recommended for you