Phil

Burlington, MA

#1 May 20, 2009
As some of you may remember, about a year ago I posted on a local blog on the amount of Killingworth’s undesignated Fund Balance (surplus) which as of 7/07 was $3.5 million. Monday night at the Town Meeting we learned that that balance has increased to just under $ 4 million as of 7/08. This does not include $886,000 left over in the Capital Reserve Fund or the $204,000 balance in the Other Governmental Funds account, or the close to $1 million surplus that Regional #17 discovered that should be returned to Killingworth’s coffers.
According to the CT’s Office of Policy and Management that relies on the recommendations of the Government Finance Officers Association, towns should try to maintain a funds balance of “5 to 15 percent of regular general fund operating revenues…” Killingworth’s surplus is pushing 20% of our budget, including Regional 17, even though each year monies are taken out of this surplus and placed in the town’s budget, the surplus is still increasing.
No one needs to be reminded that these are increasingly tough economic times for many of Killingworth’s taxpayer’s, and it is way past time that this administration give back a larger share of this surplus so that families can better afford the necessities of life. If we were to maintain a 10% surplus, which is mid-range of the recommendation, we could reduce our mill rate by 2 mills and give back more than $50 per month to the average Killingworth taxpayer.
It is time that this administration thinks about Killingworth struggling families.

Tell me when this thread is updated:

Subscribe Now Add to my Tracker

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

Killingworth Discussions

Title Updated Last By Comments
Review: Sound Plumbing Services LLC Jan 4 Tnkywk 1
'Madison Police Driving Away Local Business Dol... (Aug '11) Nov '14 elmer fudd 17
Made In Connecticut: RubIt! Hand Balm -- Manufa... (Apr '08) Nov '14 chilllybaby2 17
Madison Continues to Defend Decision Allowing P... Oct '14 Waves and surf 2
Polish Ambassador To Speak At CCSU Polish Studi... Oct '14 UGly Ape 1
Alleged drunk driver in court in Durham fair hi... Sep '14 patti 1
North Branford Police Arrests for Oct. 22 to Oc... (Nov '12) Sep '14 nbbaseball 2

Coastal Flood Watch for Middlesex County was issued at January 25 at 8:31PM EST

Killingworth Dating
Find my Match
More from around the web

Killingworth People Search

Addresses and phone numbers for FREE

Personal Finance

Mortgages [ See current mortgage rates ]

NFL Latest News

Updated 9:17 pm PST