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• Restricted for Fire LOSAP —Represents amounts, $2,824,524, for the administration of the Town’s Fire LOSAP. • Restricted for EMS LOSAP —Represents amounts, $728,827, for the administration of the Town’s Ambulance LOSAP. In the AFR, commitments are amounts that are subject to a purpose constraint imposed by a formal action of the Town’s highest level of decision-making authority. As of December 31, 2025 the Town did not report any commitments. In the AFR, assignments are not legally required segregations but are segregated for a specific purpose by the Town. At December 31, 2025, the Town reported the following fund balance assignments: Subsequent Year's Specific Total Expenditures Use Assigned General Fund $ 560,702 $ 4,411 $ 565,113 Highway Fund 262,380 775,810 1,038,190 Fire Protection Fund - 166,487 166,487 Lighting Fund 1,377 7,870 9,247 Ambulance Fund - 148,165 148,165 Garbage and Refuse Fund - 238,084 238,084 Water Fund - 736,264 736,264 Total $ 824,459 $ 2,077,091 $ 2,901,550 • Assigned to Subsequent Year’s Expenditures—Represents available fund balance being appropriated to meet expenditure requirements in the 2026 fiscal year. • Assigned to Specific Use—Represents fund balance within the special revenue funds that is assigned for a specific purpose. The assignment’s purpose relates to each fund’s operations and represents amounts within funds that are not restricted or committed. Unassigned fund balance represents the residual classification of the government’s General Fund surplus and Capital Projects Fund deficit. If the Town must use funds for emergency expenditures the Board shall authorize the Supervisor to expend funds first from funds classified as nonspendable (if funds become available) then restricted funds. The use of committed and assigned funds will occur after the exhaustion of available restricted funds. Finally, if no other fund balances are available, the Town will use unassigned fund balance. 14. ENCUMBRANCES Encumbrances—Encumbrances are commitments related to unperformed (executory) contracts for goods or services (i.e., purchase orders, contracts, and commitments). Encumbrance accounting is utilized to the extent necessary to assure effective budgetary control and accountability and to facilitate effective cash planning and control. While all appropriations and encumbrances lapse at year end, valid outstanding encumbrances (those for which performance under the executory contract is expended in the next year) are re-appropriated and become part of the subsequent year’s budget pursuant to state regulations. - 110 -