Town officials offer up optimistic fiscal outlook

Town officials offer up optimistic fiscal outlook
Eryn Dion
News Staff Writer

TEMPLETON — After last year’s fiscal rollercoaster following the discovery of a half-million-dollar budget deficit, Templeton’s new management team has begun to takes steps to bring the town back onto financially sound footing, with interim Town Administrator Bob Markel releasing the first draft of next year’s revenue projections to the Board of Selectmen.

“We think there is financial stability at this point,” Mr. Markel said.

Where officials were struggling to close the Fiscal Year 2013 books before the March Special Town Meeting, interim Town Accountant Matt Angell has kept the town on track with the state Department of Revenue’s schedule for this year.

Mr. Markel said representatives from the revenue department are ready to meet with Templeton officials to go over this year’s finances and offer suggestions for the coming fiscal year.


Looking at next year’s revenue projections, Mr. Markel estimated the town can reap about $237,500 in additional income from the tax levy for a total revenue increase of about $258,000.

“We’re projecting the total revenue for the town next year to be about $13,368,157,” Mr. Markel stated.

Contributing to the revenue increase is a modest amount of new growth — an optimistic sign as last year the Assessor’s Office did not record any new additions.

“The deputy assessor thinks $35,000 in new growth is a reasonable figure,” said Mr. Markel.

As this was a first draft, Mr. Markel explained that he tried to be conservative with his estimates because level-funding figures can fluctuate from year to year — such as state aid.

He also cautioned that, while the growth represented a step in the right direction, the town’s budget will remain tight, as rising fixed costs will likely take up most of the projected revenue increase. The numbers will also change as state aid and Chapter 70 school aid figures become available.

“I expect a final revenue sheet to be ready when the governor releases their budget in January,” Mr. Markel said. “It’s still evolving.”

Mr. Markel also sent an engagement letter to the firm conducting an audit on Templeton’s fiscal 2013 financial records. While the $23,000 in this year’s budget for auditing expense was intended for a review of fiscal 2014 records, with the town’s bond rating recently withdrawn by Moody’s, an audit of both fiscal ’13 and fiscal ’14 will be necessary to restore the rating.

“Our auditors have advised that we not skip (Fiscal Year 2013),” explained Mr. Markel.

To cover the cost of a fiscal 2014 audit, Mr. Markel hopes funds will be allotted during the Nov. 5 Special Town Meeting.