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Treasurer: Fayston likely to finish year with surplus; board to decide how much to apply to tax rate
Summary
Town Treasurer Sarah Stavraky told the Selectboard the year will likely end with a surplus but warned some of it will be needed to cover last year’s deficit; the board will later decide how much of the fund balance to use to reduce next year’s tax rate.
Town Treasurer Sarah Stavraky told the Selectboard that current figures indicate the town will finish the year with a surplus, though she emphasized the numbers are not final. “Numbers are not final, but yes, we will,” she said, and she reminded the board that part of this year’s surplus must be used to cover last year’s deficit.
Selectboard members discussed timing and transparency around fund-balance use. Sarah said the budget presented to taxpayers at Town Meeting has to clearly state how much of the fund balance the board plans to use to lower the tax rate. The Selectboard will determine the amount at the final budget meeting and present the plan at the Jan. 13 public hearing.
