Tuesday, January 24, 2017
The $1M Dollar Question...
The $1.4M Dollar Question...
You have to be able to pay for it.
If the MFOB request is approved in March, Templeton has to be able to pay for the guaranteed state bonds in order to build the (ill-fated) elementary school .
Templeton's local aid from the state will be used to pay for these bonds - around $1.4 million dollars. The same $1.4 M dollars is currently being used to pay for Templeton's operating costs.
From information provided by the Templeton selectmen back in July of 2016 there is a $1M deficit for FY 13:
It's anyone's guess what the deficits will be for FY 14, FY 15 and FY 16. Won't know until the audits are COMPLETED.
Templeton has $142,000 in stabilization to back up a $13 M dollar budget. The Templeton Board of Selectmen proposed a warrant article to use $87,500 of that very limited stabilization money to "balance" FY 17 back at the STM October 2016 . A week later a "discovery" is made that the deficit for FY 17 is $200,000. There's not enough money in stabilization to fix that little bump in the financial road.
Try to balance any future town operating budget without local aid! There will be no town government left. Maybe that's the plan after all.