Current Financial Problems
October 15, 2003
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Joseph Gillis Jr.
You can do something!
Rather than a 2% cut in certain departmental budgets, the Selectmen voted 3-2 (Yes: Herb, Allan, Dennis; No: Jim, Mike) to do a double transfer of funds. Basically, transfer $225k from the Town's Capital Account (current balance about $2.6M) into the account for Senior Center renovations. And then to transfer $225k from that Senior Center account into the general fund to re-balance the budget. The double transfer is needed to technically comply with financial restrictions on certain accounts - how they can be used, how many can be disbursed, etc... I am in the minority on this issue, as I do not want to see that account further depleted at this time. Alternatives I would prefer to see explored include: (a) utilizing accumulated interest in various account; (b) verifying that there are no additional revolving accounts - either dormant or in excess of stated limits; (c) reducing amount cap's in revolving accounts; (d) exploring a tax amnesty program to collect and recognize any back amounts due to the town. There are other options, and I hope that these can be explored prior to November 10th Fall Town Meeting.
