Are the amounts under Permanent Improvements the total of the anticipated state aid? (i.e. CHIPS)
The amounts that should be used for Permanent Improvements, those with a defined life of 10 years or greater, should include both the CHIPs funding and any other capital funds designated under the town budget. Relying solely on the CHIPS funding could result in financial shortage should documentation of work be delayed or lost during a project, causing the state to withhold those funds until proof of usage can be made. Relying only on the CHIPs funding could also result in major problems should this funding be reduced or delayed in the future.
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