Positive fiscal projection offered in New Milford
Published 6:21 pm, Tuesday, July 3, 2012
New Milford ended the fiscal year 2011-12 on a positive note financially.
With $10.67 million being borrowed through bonding in July, Mr. Jankowski projected year end numbers for an official report requested by the bonding agency.
He said there would be a 2011-12 fiscal year end surplus of $268,500. Mr. Jankowski made a request to the council to carry $651,294 in projects for fiscal year 2011-12 into fiscal 2012-13, with the anticipation of final bookkeeping balancing that figure out.
Mr. Jankowski projects fiscal 2012-13 would end with a positive fiscal balance of some $55,000.
"I think the worst is behind us," he said. "It doesn't look like a catastrophic year coming up."
The Town Council unanimously approved the year end adjustments.
-- Susan Tuz