MEXICO – Town Manager John Madigan told the 20 or so people who attended Wednesday’s selectmen’s meeting that now that the final draft audit for fiscal year 2003-04 is completed, the town has a lot of work to do to build a 2005-06 municipal budget.
“Now that we have the auditor figures for where the town ended, we’ll know where to begin,” he said.
He assured residents that reserve money, at $168,000, has been returned to the proper accounts and that a $100,000 tax anticipation loan will be repaid when property tax money starts flowing in next month.
Not everyone was convinced.
Mexico Taxpayers Association member Betty Barrett said she believed the capital reserve funds were higher than what Madigan said, and former Selectman Monique Aniel questioned whether the reserve funds were only back on paper.
Madigan said a reported $300,000 deficit from a preliminary audit reviewed in October was a misunderstanding. All the figures hadn’t been plugged in.
Some accounts in previous budgets had been underfunded. As the 2005-06 municipal budget is developed, that will change.
He said all accounts will be reviewed, with particular attention given to the recreation department. Budgets for that department, he said, have been based on program fees.
“We have a lot of work to do with that one,” he said.
A preliminary budget for the coming year should be presented to selectmen for a first look at the March 9 board meeting.
In other matters, the board agreed to write a letter to the River Valley Technology Center requesting assurance that if the required 40 jobs aren’t created at the center within two years, the town would not have to repay a $400,000 Community Development Block Grant.
The issue arose because the town was given the grant to help the technology center with construction of the facility. One of the requirements for the federal funds was the creation of 40 jobs.
Center Director Norm MacIntyre said three jobs have been created, and he was sure the remaining 37 would also be created by July 1, 2006, adding that the groundwork was being laid for new, fledgling businesses to move in.
“The CDBG doesn’t want their money back, they want the jobs,” he told selectmen.
The issue will be taken up at the technology center board’s meeting in March. The board will also decide whether to add Madigan as a board member.
Comments are no longer available on this story