"Real liberty is neither found in despotism or the extremes of democracy, but in moderate governments.
Alexander Hamilton

Sunday, May 29, 2016

"There (sic) not using any surpluses to offset next year's taxes in Moultonborough. If they were, my tax bill wouldn't keep going up!"

That statement was from a Moultonboro resident posting on another forum in regard to a question from another poster about what do towns do with " excess" revenue at the end of the year. "Does the excess get sent to Concord to somehow equalize a town with a lower value tax base?"
I understand that many citizens pay little attention to the budget  and how it is formulated, but rather just look at the tax rate. It indeed did go up when the NH DRA set it last fall at $9.01 an increase of 1.7%. The increase was almost entirely due to the County portion which increased by 14% due to the $2.4 million supplemental budget. The Town portion of the  tax rate was flat over the prior year at $2.85. We were able to keep it at the same level partially by applying money from the Unexpended Fund Balance. We have a target of 12.5% in that fund and over the past two years it has grown to over 20%.
In 2015, $575K was used to offset taxes. In addition, two trash compactors and the site work for the transfer station to implement single stream, $251K towards 2016 Capital purchases, a Police Cruiser and an electronic portable highway sign were all accomplished with funds applied from the Fund Balance.
Surplus funds were expended in a number of ways to offset the tax rate and reduce the next budget years tax appropriation. The budget surplus always remains under the control of the Town. It is not sent to Concord or anywhere else.


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