7998-R1_ML&P_Hollis_2020-2021_AnnualReport_Web

The general fund actual expenditures were under budgeted amounts by $760,602. All expenditure categories were within or under budgeted amounts with the exception of public services. Capital Asset and Debt Administration Capital Assets As of June 30, 2021, the net book value of capital assets recorded by the Town decreased by $92,536 from the prior year. This decrease is the result of capital additions of $580,810, less net disposals/transfers of $121,792 less depreciation expense of $551,554.

Table 4 Town of Hollis, Maine Capital Assets (Net of Depreciation) June 30,

2020

2021

(Restated)

Land and other assets not being depreciated Buildings, building improvements and land improvements Equipment, machinery and vehicles

$

293,602

$

268,063

1,050,422 1,035,810 7,871,553

1,104,065 1,064,707 7,907,088

Infrastructure

Total

10,251,387 $

10,343,923 $

Debt At June 30, 2021, the Town had $2,400,000 in a bond payable versus $2,700,000 in the previous year. Refer to Note 6 of Notes to Financial Statements for more detailed information. Currently Known Facts, Decisions or Conditions The outbreak of COVID-19 has been declared a pandemic and led to a national state of emergency in the United States. Refer to Note 1 of Notes to Financial Statements for more detailed information. At present it is not possible, with any degree of certainty, to estimate the impact of COVID-19 on the revenues, expenditures, budget or overall financial position of the Town. No assurance can be given regarding future events or impacts because these actions and events are unpredictable or unknowable at this time and are outside the control of the Town.

83 10