Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance topic
No spam. Unsubscribe anytime.
Treasurer warns of $57,000 tax shortfall as fiscal year ends
Summary
The treasurer reported the town is roughly $57,000 behind in tax collections for the year; she said interest and penalties will cover about $34,000, leaving an approximate $22,000 shortfall and named a specific delinquent account of about $14,000.
At the treasurer's report, the town treasurer (speaker 8) told the board the town was behind on tax collections as year-end approaches. "As of today, for the current year, taxes were $57,000 short, which is more than I'm comfortable with," the treasurer said. She said interest and penalties on delinquent accounts will provide about $34,000 to offset the shortfall, leaving the town approximately $22,000 short; she identified one outstanding property on South Street owing about $14,000 and reported the town had sent late notices for June 15 deadlines.
The treasurer said there were 28 appropriations and other year-end payroll items to process, and that the board would face a heavier signing workload that night. She also reported a last-minute bill for large-trash day of about $3,260 and a small library reimbursement of $350. The treasurer said budget variances in the town and highway accounts should help cushion tax revenue shortfalls but asked the board to monitor collections closely.
Board members asked about follow-up on large delinquent accounts and agreed staff should continue outreach and prepare updated projections for the next meeting.
