ROCKLAND, Maine — The city kept a good handle on its expenses and took in more money than projected last year, leading to a record high surplus.
Auditor James Wadman of Ellsworth shared the news with city councilors as he met with them Monday night to review the audit for the 12-month budget year that ended June 30, 2011.
The city saw its surplus grow last year by more than $326,000, bringing its overall surplus to $1,165,425.
The city has seen its surplus increase in each of the past five years, said Business Manager Tom Luttrell. The surplus had dwindled to a low of $407,000 in 2006.
The City Council several years ago set a goal of keeping a surplus equal to 8 percent of the amount of property taxes billed each year. Luttrell said with the current surplus, the city is up to 6.7 percent of its billed taxes.
During the 2010-2011 budget year, the city took in nearly $222,000 more in revenues than it had projected. The biggest source of unexpected income was $149,000 more in motor vehicle registration fees.
In terms of spending, a few accounts were overspent but overall the city stayed within its expenditure targets.
Wow, at least one form of Govt. is doing it right.
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Please explain how that would even be remotely possible unless they always were over budget? The surplus can be used to reduce tax requirements for the upcoming year, but without some surplus on hand projects that run over or other costs cannot be defrayed without a vote which would cost money itself. If you have total distrust in local or any government for that matter, you’re not getting involved enough.
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Maybe you should re-read what you said? You state the “surplus should not exist”, please inform us how this would occur?
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Rockland is lucky. The council here in Belfast would waste that money on a study to see if the dog poop from the dog park could be used to produce energy at a profit.