AUGUSTA – Gov. Paul LePage touted a state budget surplus of $175.8 million Monday, noting that Maine had concluded the fiscal year well in the black. LePage credited his administration’s sound fiscal management for the surplus. He said $74.6 million of the surplus has been allocated to the state’s next two-year budget and $76.2 million […]
surplus
Posted inOxford Hills, Uncategorized
Norway board tables vote on undesignated fund balance policy
NORWAY — The Board of Selectmen agreed last week to hold off on voting on a new undesignated fund balance policy until its first meeting in April. Town Manager David Holt told the selectmen that “a long, long time ago, there was no policy for undesignated fund balance.” “What the town did was say, ‘We’re […]
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Posted inAdvertiser Democrat, Oxford Hills
Paris voters approve using surplus funds to cover overdrafts
PARIS – Residents voted unanimously Thursday evening to use $168,319 from surplus to cover overdrafts in town accounts. Town Manager Vic Hodgkins said an article authorizing coverage of budget shortfalls was inadvertently omitted from the June 2016 annual town meeting warrant. The overdrafts were due to the following: • Two police officers out on workers’ […]
Posted inMaine
Peggy Rotundo says state should pay bills before adding to savings
AUGUSTA — Rep. Peggy Rotundo, D-Lewiston, said Tuesday a state revenue surplus of about $73 million should be used first to help cover the state’s bills before being put into Maine’s savings account. Rotundo joined other Democrats in countering a bill being offered by Republican Gov. Paul LePage that seeks to put all of the […]
Posted inRiver Valley
Dixfield residents to vote Oct. 1 on whether to use surplus money for sidewalk project
DIXFIELD – Residents will vote at 6 p.m. Thursday, Oct. 1, on whether to appropriate $46,850 from surplus to provide a 20 percent match for the Safe Routes to School project. The special town meeting will be held at Dirigo High School’s community room. In early 2013, the town agreed to move forward with constructing […]
Posted inRiver Valley
Price hike of Safe Routes project prompts Dixfield board to schedule special town meeting
DIXFIELD — The Board of Selectmen voted unanimously Monday evening to have Town Manager Carlo Puiia schedule a special town meeting on using surplus funds to pay for the recent cost increase of the Safe Routes to School project. Puiia said that in March 2013, the engineering and administration cost for project was estimated at […]
Posted inBethel, Oxford Hills, River Valley
Newry to fix $75,000 error
NEWRY — Selectmen hastily scheduled a special board meeting for Thursday, June 18, to draft a warrant to correct a March town meeting error. Near the end of Tuesday night’s board meeting, Administrator Loretta Powers said no one caught the mistake in Article 34 that was supposed to take $75,000 from unappropriated surplus and buy […]
Posted inLewiston-Auburn
Turner schedules town meeting vote on rescue budget
TURNER — The Board of Selectmen will meet at 5 p.m. Wednesday to review and vote on a warrant for a special town meeting this month. The meeting is set for 7 p.m. Monday, Oct. 20, at Leavitt Area High School. One article will ask if residents will vote to spend up to $431,588 for […]
Posted inRiver Valley
Mexico residents vote to reduce tax commitment using surplus funds
MEXICO — Residents voted 10-1 during a special town meeting Tuesday evening to allow the town to allocate $150,000 from the undesignated fund balance to reduce the 2014-15 tax commitment. The residents also voted to allow the town to use an additional $150,000 from the same balance to reduce the town’s debt service budget. Prior […]
Posted inMaine, sj-web
State has $58 million revenue surplus
AUGUSTA — State revenue for the fiscal year that ended June 30 exceeded projections, leaving Maine with a surplus of nearly $58 million. Nearly half of that unanticipated income — just less than $28 million — came from a one-time spike in individual income tax revenue, according to preliminary calculations included in a monthly report […]