Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Finance topic
No spam. Unsubscribe anytime.
Dorset finance report: delinquent taxes increase and multiple sinking fund balances reviewed
Summary
The town reported $129,451 in delinquent taxes as of March 13, 2025 (up from $97,975 last year) and reviewed sinking fund balances including ARPA ($582,000; $202,000 available) and the 2021 Town Office bond balance of $3.6 million.
Town Manager Rob Gaiotti presented the March 18 finance report, noting delinquent taxes stood at $129,451 as of March 13, 2025, up from $97,975 the previous year. The board discussed that FY25 is roughly 68% through its budget while the year is 72% complete, with personnel and highway expenses noted as drivers of recent expenditure levels.
Gaiotti said reappraisal costs and Town Office construction expenses appear to make the ledger look over budget but are offset by a fund transfer and bond reimbursements. The board reviewed sinking fund balances: ARPA $582,000 ($202,000 available for use), Town Office Solar $125,000, Mad Tom Rd Site $175,000, and several others. The 2021 Town Office bond balance was listed at $3,600,000 with a bond rate of 4.01%.
Board members indicated highway salt/sand and highway repair budget pressures are concerns for the coming months and staff will continue monitoring expense categories.
