7998-R1_ML&P_Hollis_2020-2021_AnnualReport_Web

TOWN OF HOLLIS, MAINE NOTES TO FINANCIAL STATEMENTS JUNE 30, 2021

NOTE 8 - RESTRICTED NET POSITION AND FUND BALANCES At June 30, 2021, the Town had the following restricted net position and fund balances:

Poland Spring TIF fund Road paving projects

5,737,362 $

19,961

Nonmajor special revenue funds (Schedule D)

277,557 6,034,880 $

NOTE 9 - ASSIGNED FUND BALANCES At June 30, 2021, the Town had the following assigned fund balances:

General fund: Broadcasting

$

600

Assessor

2,550 50,784 11,000 7,500 11,000 10,927 9,000 3,250 106,911 300

Emergency services

Operations and management

Highway Paving

Hollis recreation department

Sports complex

Conservation commission

Code enforcement

$

NOTE 10 - OVERLAPPING DEBT The Town is responsible for its proportionate share of debt for the County and School District it belongs to. As of June 30, 2021, the Town’s share of overlapping debt was as follows: Outstanding Town’s Total Debt Percentage Share

County of York MSAD No. 6

$

900,000

1.49% 13,440 $ 16.67% 2,635,589 2,649,030 $

15,810,374

111 38