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Moultonborough finance director reports large jump in interest income; flags IT and assessing overages
Summary
Finance Director Andrea Picard told the Board of Selectmen that interest earnings jumped to $734,855 in 2025 from $207,693 in 2024, and highlighted budget overages in IT and assessing that stem from prior under-budgeting. Revenues generally trended above expectations.
Finance Director Andrea Picard presented the town's Q2 2025–2026 financial report to the Board of Selectmen on March 3, saying the town's investment income rose substantially. Picard reported that interest on accounts for calendar year 2025 totaled $734,855 compared with $207,693 in 2024, a year-over-year increase she described as substantial.
Picard said certain departments are over budget, specifically information technology and assessing, which she attributed to inadequate budgeting in prior years. She said the revenue side of the ledger is performing well overall, with some line items exceeding budgeted numbers.
The board did not take formal action on the report but received it as part of the regular quarterly update. The report will inform budget planning and the upcoming fiscal discussions ahead of the next budget cycle.
