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Jaffrey budget committee reviews first-quarter finances, approves minutes
Summary
The Town of Jaffrey Budget Committee on April 2 received a first-quarter budget update from Town Manager Frederick, approved prior minutes 4-0 (Selectman Lawn abstaining) and discussed revenue timing and a pending sale of tax-deeded property at 118 Mountain Road for $225,000.
The Town of Jaffrey Budget Committee on April 2 received a first-quarter financial update from Town Manager Frederick and approved prior meeting minutes 4-0, with Selectman Lawn abstaining.
Town Manager Frederick told the committee the town is one quarter through the fiscal year and that the financial reports show about 75% as the “Percent Left.” He reported total budgeted General Fund expenditures of $8,175,563, which includes a $99,334 line for the Police collective bargaining agreement; $1,811,884 has been expended to date and roughly 77.84% of the General Fund remains unspent. Total General Fund revenues were reported at $2,855,315, with about 83.76% still to be collected.
Frederick said several expenditure accounts show higher outlays early in the year because of timing: Financial Administration had large upfront payments for audit and contracted IT services; Property Records had annual software license payments; Highway spending rose because of winter-related overtime, salt, fuel and vehicle maintenance; and Recreation had annual software licenses paid up front.
On revenues, Frederick noted Meals and Room Tax receipts and TIF district disbursements typically arrive late in the year. He also reported that tax-deeded property at 118 Mountain Road is under agreement to sell for $225,000.
The manager provided preliminary water and sewer figures: water revenue of $441,559 with expenditures of $375,744. He reported sewer revenue of $795,919 and an expenditures figure that is truncated in the transcript (appears as "$415,20"), so the full sewer expenditures amount is not specified in the record.
Procedural business included committee member Mike Nork moving and Patty Farmer seconding approval of the prior meeting minutes; the motion passed 4-0 with Lawn abstaining. Members discussed scheduling for the May meeting: Farmer and Nork said they are unable to attend May 7 and members will confirm by email; the meeting may be rescheduled to May 14 if a quorum cannot be confirmed.
