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Tamworth board hears budget update, seeks $71,000 in savings and options to fix expendable trusts
Summary
At its Nov. 21 meeting, the Tamworth Select Board received a $5.165 million budget update, was told $443,000 of unassigned fund balance had been earmarked, and discussed three options to amend expendable trust language and a $72,000 EV charging project funded by the Tamworth Foundation and a pending state grant.
Speaker 2 told the Select Board on Nov. 21 that the working draft of the municipal budget stood at about $5,165,000 and that the board had identified $443,000 in planned appropriations from the town’s unassigned fund balance. He said estimated non-property-tax revenues are about $2,290,000, leaving an initial tax effort near $2,656,000.
“Right now, without any assigned fundals, we’re at 2.656,” Speaker 2 said, and recommended the board find roughly $71,000 in reductions to avoid using additional fund balance. He said that $71,000 could be achieved by asking larger departments to trim lines or by…
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