Good morning Sangerville,
We had our last regular select board meeting of 2024 Wednesday evening. The most significant item of discussion was on our budget, which fits with my ongoing information to you folks about how we collect and spend your tax dollars. When taxes and other revenues from the state are collected, we spend that money within our budget as directed by the taxpayers at the annual town meeting. One of the big challenges to this process, believe it or not is the calendar. Our fiscal year is the same as the calendar year. Our town meeting is in the spring, and we do not begin collecting taxes until July. You, the citizens of Sangerville authorize us to spend your tax dollars, and how to spend them at the annual town meeting. Traditionally, town meeting in Sangerville is the last Saturday in March, although it was in May this year. The selectmen and I have heard significant feedback from you, the citizens that town meeting should be held the last Saturday in March as it has been for many years. We are planning to return to tradition and have town meeting the last Saturday in March this year. When you authorize us to spend the budget at town meeting, that is for the remainder of the fiscal year. In other words, we can spend from the line items of the budget, on their respective expenses until December 31st. Included in each town meeting warrant is always an article that allows us to pay our bills during the new fiscal year, until the next annual town meeting. After town meeting, we begin spending the budget for the current fiscal year, however, we have not set a mil rate or begun collecting taxes yet. What that means is we are spending money that is already in our checking and savings account until the end of July. When August rolls around we finally start using money collected from taxes on the respective year to pay our bills. So, when I reported to the select board for the last regular meeting of this fiscal year, I felt it necessary to report that we do have enough money in our checking and savings account to run the town through July 31st, with a three-month reserve, as recommended by our auditors to cover any unforeseen or emergency expenses. I am happy to report that when all our expenses were figured, we are in good shape and there is some money beyond what we need to run the town until August.
To make a long story just a little bit longer that brings us to the main discussion Wednesday evening. At the 2024 annual town meeting two articles were passed that our tax revenues did not allow us to fully fund. Article 26 was to use up to $200,000 for road repairs, beyond regular maintenance. Article 35 was to raise up to $440,000 to renovate the town hall. The select board voted to use the remaining money in our savings and checking account beyond what we need to run the town until August with the three-month reserve for emergencies, to place $250,000 into a reserve account for the town hall renovation and $30,000 into a reserve account for road work to begin in the spring. In addition to the money, we set aside to continue road improvements as soon as possible in the spring is the approximately $39,000 in local road assistance money from the department of transportation to be spent on capital road improvements. This allows us to begin road work as soon as we can in the spring, and we have a long list of projects.
I expect my next post to be sometime after the holidays, where I will talk about the process of putting together the budget that you folks will vote on, at the annual town meeting in March and how we will determine the articles in the warrant. Happy holidays everyone.