Bill Whalen: How is the Sanbornton Fund Balance doing?

To The Daily Sun,

Just some information for Sanbornton taxpayers about Sanbornton's Fund Balance, which amounted to $2,087,281, prior to the Board of Selectmen developing our new budget.

To begin with, the BOS used about $400,000 of that fund balance to offset the tax rate reflected on your 1/5/21 town tax bill.

What's also  in the works is that the BOS is planning to also use $600,000 of the fund balance to offset the cost of the new building project which will be voted on at the May 15, 2021 town meeting. Another item to be voted on at the town meeting will be an article proposed by the  BOS to pay a promissory note on an ARRA loan of $52,000 from the Sanbornton fund balance also.

So assuming this all happens, our town will only have a remaining Fund Balance of $1,035,281.

I would have liked to see that $600,000 proposed for the building project be used to reduce our town tax rate further. We should reconsider the building project – who's total cost it estimated to be $2,981,152 – for some time in the future when the economy improves and people's financial situation have hopefully improved.

Just something to think about before you vote on May 15 at the town meeting.

Bill Whalen

Sanbornton