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Town staff report March finances and board approves routine transfers
Summary
Staff reported March revenues ahead of budget and expenses below year-to-date projections; the board approved several contingency transfers for part-time staffing, fuel, sewer safety fixes after OSHA inspection, and other departmental needs, with one recorded opposition.
Finance staff presented the town's financial results through March and asked the board to approve several transfers to reconcile expected year-end uses.
Ryan and other finance staff said year-to-date revenue was about $176.3 million (roughly 100.6% of budget) with most of the surplus coming from tax revenues; building-permit receipts and conveyance fees were reviewed and investment interest was noted as near budget. Year-to-date expenses were reported at about 69.2% of budget, a level the presenters characterized as favorable compared with a linear pace.
The board also considered line-item transfers from contingency: a temporary part-time staff hire to support minute-taking, reallocations to cover higher fuel and oil costs in several departments, and sewer-fund contingency draws for a required OSHA-mandated safety guard and for higher fuel costs in that fund. The transfers were moved, seconded and approved; one member voiced opposition during the votes.
Next steps: staff will update budgets and continue monitoring revenue timing and permit-driven receipts through the remainder of the fiscal year.
