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Griswold Board of Finance reviews monthly finances, sets budget calendar
Summary
At its Jan. 21 meeting the Griswold Board of Finance accepted the finance director’s monthly report — noting revenues near 57.5% and expenditures near 59.8% of budget and a projected year‑end fund balance around 20.19% — and set budget presentation and workshop dates from Feb. 24 through May 5.
The Town of Griswold Board of Finance reviewed the finance director’s monthly report and set the town’s calendar for upcoming budget presentations and workshops.
Eric, the finance director, told the board he had included revenue and expenditure reports for the current fiscal year and an updated fund‑balance analysis. He reported that revenues recorded to date are about 57.5% of the annual budget, while expenditures are roughly 59.8% of budgeted amounts, and he projected a year‑end unassigned fund balance of about 20.19%. He said the final fund‑balance figure will await completion of the audit.
The figures reflect routine timing differences and a small set of over‑ and under‑budget items that the finance director said should largely wash out by year end. Eric explained that the tax‑refund line primarily reflects refunds for property taxpayers who double‑paid (for example, when a mortgage servicer and a homeowner both remit the same tax payment) and assessor adjustments.
The board discussed logistics and timing for presentations from department heads. Members requested that the Board of Education present early so members have time to digest its budget; the finance director said the full packet would be available Feb. 14, with presentations beginning Feb. 24.
The board settled on the following schedule for budget work: Feb. 24; March 3, 18, 24 and 27 (presentation days); a March 31 workshop to craft final budget language for the public hearing; with April 30 and May 5 held as additional dates if needed. A public hearing is planned for April 29, per the discussion.
Procedural business at the meeting included motions to reorder the agenda (moving an executive‑session item to later in the evening) and to approve the Dec. 17, 2024 minutes; both motions carried on voice votes.
The board will wait for the audit to finalize the unassigned fund‑balance number but directed staff to proceed with the presentation schedule and to circulate the budget packet on Feb. 14 so members can prepare questions for the Board of Education and other departments.
The board moved on to other agenda items and later voted to enter an executive session on pending claims and audit matters.
