EUSTIS — Residents will find that the warrant for the annual town meeting on Saturday is different this year due to a change in accounting procedures, Town Clerk Kathy Fearon said.

If there is any amount of discussion, she expects it to be on the proposed accounting changes for the budget and warrant because it may be confusing since it is the first year, she said.

The town meeting will begin at 9 a.m. on March 5 at the Community Building. Elections will be held from 4 to 8 p.m. on Friday, March 4, at the town office.

Incumbent Selectman Earl “Jay” Wyman Jr. is uncontested for a three-year term on the Board of Selectmen.

Planning Board member Scott Spatcher is seeking re-election to a three-year term. SAD 58 Director Susan Fotter is also running again for a three-year seat on that board.

Both Spatcher and Fotter are also unopposed.

The accounting procedure change has been long overdue, Fearon said.

Historically, Eustis has operated on what is known as a “net” budget, she said.

“What this means is, we have applied all the revenues we receive during the year toward the respective accounts,” she said.

Town officials are proposing to go to a “gross” budget and that is reflected in the proposed budget and town meeting warrant, she said.

“This means we will raise what is needed for every account, and apply the revenues toward the total 2011 appropriation,” she said..

The town ended the year 2010 with $467,969.78 in surplus, she said in her year-end report.

“This is about $50,000 less then last year, because last year we used $50,000 to decrease the tax commitment, and an adjustment was made by the auditor to the deferred revenue, to adjust for unpaid property taxes at the end of the year,” Fearon said.

There is no plan to use any funds from surplus for 2011, she said.

At the year-end, Fearon said she lapsed $200,349.22 to an account called designated revenues.

“We have proposed to raise $870,960.81 from taxation to operate the town of Eustis. We have an article that, if approved, would take the funds that have been placed in designated revenues applied to reduce the 2011 commitment. This would make what we raise actually less than approved last year, by $5,702.41,” Fearon said. “Next year when I close the books, all balances will lapse along with all the revenues collected during the year.”

This change will make the auditor’s job easier, and should make my job easier,” Fearon said in her report. “But the main purpose of doing this is we need to comply with ‘General Accepted Accounting Procedures.’ It will make the various reports that are needed much cleaner, and easier to understand.”

dperry@sunjournal.com

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