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Litchfield reports strong collections, board approves April financials; DPW places moratorium on spending
Summary
Finance Director Amaechi Obi reported 98.2% of revenues and 99.5% of taxes collected year-to-date; the board unanimously approved April reports while Public Works instituted a departmental spending moratorium until fiscal year end.
Finance Director Amaechi Obi presented the monthly financial reports, saying the town has collected 98.2% of its revenue and 99.5% of taxes due so far this fiscal year. He noted that expenses are at 85% of the budget compared with 88% at the same time last year and that some ECS money has just been received and will appear in next month's report.
Public Works Director Raz Alexe said he has placed a moratorium on spending in his department until the end of the fiscal year. The Board voted unanimously to approve the April financial reports.
A board motion to approve the monthly reports passed with all present voting aye; the board expects to end the year with a good-sized surplus overall, subject to final reconciliations and outstanding audit items.
