Interim town manager: appropriations report shows 43% of year, 33% spent; $2.4M bond payment due in July

The interim town manager told the Wolfeboro Budget Committee that the town's year-to-date appropriations report through the end of May shows the general fund is roughly 43% of the way through the fiscal year while about 33% of budgeted expenses have been incurred. "General fund appears to be in pretty decent shape, or approximately 43% through the budget year, and we're running 33% of expenses through that time frame," the interim town manager said.

He cautioned, however, that a large bond payment of about $2,400,000 is due in July and will change the town's cash position once it posts. "We have some large bond payments coming through with the tune of $2,400,000 here in July," he said. Committee members asked staff to present the appropriations report to the Board of Selectmen first and then return it to the committee at the next meeting for detailed review.

Committee members asked questions about specific funds. One member noted water and sewer funds show timing effects because the wastewater plant payment was taken early in the year; the interim town manager confirmed that principal and interest on a sewer bond had been paid for the year, which makes the current fund picture appear "off kilter." The committee agreed staff would provide updated percentage and encumbrance figures at the next meeting after the July payments clear.

The discussion closed with members urging conservative spending until the impact of the July bond payment is fully known and asking staff to produce clearer monthly revenue and expense reports to improve visibility for the budget season.