CHESTERVILLE — Auditor Bruce Nadeau of RHR Smith and Co. of Buxton presented his report on the town’s finances Thursday, say they were in good shape.

“The town seems to be running reasonably well,” he said.

Chesterville’s valuation was just under $95 million, based on figures for the year ending Dec. 31, Nadeau said. The 2015 town budget was $1.54 million and the tax rate is $16.30 per $1,000 of property value.

The Regional School Unit 9 assessment was $914,310, or more than 65 percent of the total town budget for 2015, Nadeau said. County taxes were $106,528.

On the municipal side, public works was budgeted at $401,715, but only $329,498 was spent. Board of Selectmen Chairman Guy Iverson pointed out that much of what was saved in public works was in payroll.

“From a budget perspective and a board perspective, you want to look farther out and at the bigger picture,” Nadeau said. “Where do we want to be a year from now?”

He said an ideal way for the town to save money was to pay for items in cash whenever possible, and not borrow and pay interest.

Nadeau also urged selectmen to focus on sustainability, admitting that they had a difficult task that wasn’t going to get any easier.

Of course, some expenses are unexpected, he said, such as a torrential rainstorm that washes out a road. This is why the town needs to have ample surplus to deal with emergencies, he said.

Chesterville came in under budget on expenses and slightly over budget on revenues, he said.

Nadeau encouraged town officials to have all overdrafts listed in the town warrant. He said the town’s debt level is very low, “which is a good thing, because your interest expenses are low.”

He suggested the town develop a capital needs program to better plan for the future.

“If there’s a need, don’t hide it from the taxpayer. Give them the final say,” he advised. “It’s really critical, from a sustainability standpoint, to match what your operating needs are, your day-to-day expenses, with your revenue flow.”

Iverson asked what the town should have in capital reserve funds, and Nadeau said it should be at least several hundred thousand dollars.

Although some towns are holding June town meetings to better coincide with the school district’s fiscal year, Nadeau said Chesterville should stay with its current March town meeting. Often, he said, people will be busy with other activities in June and won’t show up for town meeting.

“Most towns are very frugal with their money because the taxpayers are right there on them,” Nadeau said. “There’s not the ability to hide much in a budget in a small town like this.”

Selectman Scott Gray asked where the town could save money.

Nadeau suggested it get its tax collection rate higher by sending out notices. He said roughly 87 percent of taxes were paid on time last year.

Iverson asked how Chesterville’s collection rate compared to other towns, and Nadeau said it was a little below average.

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