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Scotland treasurer reports October finances: $2.62M in tax collections, $1.6M cash on hand
Summary
Treasurer David Zito told the Board that through Oct. 31 the town had collected $2.62M in current-year taxes (56.2% of budget), reported total revenues of $3.16M, and held $1.6M in General Fund cash with STIF accounts noted; FY25 capital spending and audit work were also reported.
Treasurer David Zito presented the October 2024 financial report to the Scotland Board of Selectmen, reporting that total current-year tax collections for the first four months of the fiscal year totaled $2.62 million, equal to 56.2% of the fiscal year budget. Back-tax collections totaled $40,600, which the minutes record as 135% of the full-year budget for back taxes. The treasurer noted total revenues of $3.16 million, or 51.3% of the full-year budget, and that general fund cash as of Oct. 31 totaled $1.6 million.
Zito told the board that state grant revenues recorded $487,000 (35.2% of full-year grant budget), departmental revenues were $22,400 (35.2% of full-year departmental budget), and that the town had earned $14,400 in interest in FY2025 across STIF accounts. The minutes break out selected FY25 capital expenditures: $26,800 for the Fire Department (including an $8,600 network upgrade and $18,200 for air packs). The minutes also report $251,000 available to spend in CNR funds and Town Hall renovation fund activity: $164,000 incurred through Oct. 31 with $50,000 received in reimbursements.
Other items in the treasurer's report included an ongoing field audit with a draft audit report issued and under review, a planned transition of town credit cards from JP Morgan to US Bank scheduled for February, and budget concerns flagged for Scotland Elementary School other expenses, ambulance transport salaries, and building maintenance.
The treasurer provided these figures in the Nov. 13 meeting minutes attached to the Dec. 11 agenda packet; the minutes indicate the month-end close was complete and that standard reconciliations were performed. The board did not record roll-call votes for acceptance of the treasurer's report in the minutes.
