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New Canaan auditors, finance staff report town and school finances largely on track; transfer-station fees flagged as outlier
Summary
Town financials showed general fund revenue at about $176.3 million (100.6% of budget) with expenses on track; BOE reports encumbrances for salaries/tuition and grants timing items. Committee flagged transfer-station tipping fees as a revenue outlier and discussed bank reconciliations and cash-management practices.
Town and Board of Education finance staff presented February/March financial statements to the New Canaan Audit Committee on April 17, reporting broadly favorable budget attainment but noting a handful of timing and operational items that merit monitoring.
Ryan (budget and financial systems presenter) told the committee general-fund revenue stands at $176,300,000 — "100.6% of budget for this year" — with three months remaining in the fiscal year. He said current tax collections were about $165,500,000 (3.9% over last year) and that conveyance fees and some operating transfers had boosted revenue. He also noted building-permit revenue (about $691,000) remains below last year's unusually high 2024 totals and sits at roughly 76.8% of typical season-to-date…
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