LACONIA — The city administration, especially the Finance Department, received high marks this week when Scott McIntire of Melanson Heath, the independent auditors, reported to the City Council on the city's financial condition as of June 30, 2014.
McIntire noted that actual revenues exceeded projections by $349,161 and actual expenditures were $1,911,472 less than budgeted appropriations, leaving an excess of $2,260,633, which represented "very strong operating results." Likewise, he stressed that the unassigned fund balance $5,574,412, representing 10.5-percent of total general expenditures, reflected the city's "good solid financial position."
McINtire said that the city's outstanding debt of $8,788,000 and the school district's outstanding debt of $26,410,000 amounted to 16 percent and 21 percent of their legal borrowing limits respectively. Furthermore, he said that nearly three-quarters of the outstanding principal will be retired during the next 10 years.
NOTE: Following a second public hearing, at which no one spoke, the City Council unanimously approved a zoning ordinance restricting the dispensing, cultivation and process operation of marijuana for medicinal purposes to the industrial districts in the city. The Legislature authorized the use of marijuana to treat specified medical conditions and he New Hampshire Department of Health and Human Services (DHHS) has received proposals from non-profit corporations to operate facilities in four geographic zones, one of which consists of Belknap, Rockingham and Strafford counties. DHHS has not disclosed where the applicants propose to operate nor has the agency awarded licenses.
- Category: Local News
- Hits: 181