Pre-Paid Rent as source of Free Cash? NOPE October 6, 2004

News Archives

Joseph Gillis Jr

Local Communities   Bridgewater    Raynham    Easton    East Bridgewater   West Bridgewater Massachusetts   Legislation & Politics USA   Legislation & Politics World Education   Bridgewater-Raynham Schools   Massachusetts   USA Archives (past stories) Opinion/Analysis Joseph Gillis Jr. You can do something!

October 6, Pre-paid Rent as source of Free Cash? NOPE More published reports attributing a share of the "Free Cash" to the pre-payment of rent by BTV to the Town of Bridgewater.  WRONG.  The pre-payment of rent should not be recognized as revenue upon receipt (Check with you friendly neighborhood accountant).  The $1.1M basically is comprised of three areas: $600k in excise tax payments, $200k in prior year property tax payments, and $200k in prior year Accounts Receivable.  None of it is related to the pre-payment of rent; our Town Accountant is doing it right - the press reports are wrong.

.

Home