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Finance staff report nearly $198,000 in budgetary savings after insurance and line-item reviews
Summary
Town finance staff told the Finance Committee they have identified roughly $197,885 in year-to-date savings from duplicate software, overtime reductions, eliminated advertising and lower-than-expected health insurance renewals; staff recommended a May 5 final budget workshop before the council vote.
Finance staff told the Town Council Finance Committee on April 28 that a series of line-item corrections and an unexpected favorable insurance renewal have produced $197,885 in year-to-date savings for the general fund.
Finance staff member Helene said the savings include smaller adjustments — $2,525.98 in technology from eliminating duplicate software subscriptions — and larger operational changes, notably a $69,287 reduction after the fire department adjusted overtime and per diem. Helene said the town received a “negative 3” percent renewal from its…
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