MEXICO – Officials may have found a way to reduce at least part of the town’s deficit by redirecting anticipated revenues into the general account.

At a four-hour meeting Tuesday night, selectmen worked toward cutting costs and finding ways to reduce the deficit.

Town Manager Joseph Derouche said Wednesday that nearly $100,000 in expected revenues for water and sewer projects will be directed to the general account. Other money can be found among smaller accounts, such as those for economic development, that will not be spent.

He estimated that about $106,000 will be found from these methods.

Earlier in the meeting, the board reduced several full-time positions to part-time, which with the associated health insurance premium savings resulted in nearly $19,000 in savings. Another $2,500 was saved from eliminating stipends for Budget Committee and Planning Board members. And Fire Chief Gary Wentzel presented a $5,000 savings by cutting the purchase of equipment.

At a prior meeting, the board eliminated payment of the remainder of their salaries, a savings of $6,600.

Selectmen have yet to hear cost-saving ideas from the police and highway departments and the town office. Those are expected to be considered at the board’s next meeting on Dec. 8.

A preliminary audit reviewed in October showed that the town has a deficit of at least $300,000. The precise figure will not be known until the final audit is presented. Board Chairman Arthur Bordeau is currently trying to set up meetings with the auditor, Keel Hood of Fairfield.

About $197,000 of the deficit was capital reserve funds that were used for the town’s cash flow. Such funds are raised at town meeting for specific purposes, such a for highway, fire and police department equipment and vehicles. The remaining deficit is due to overages in several areas, including the recreation and police departments.