Concord Town Board updated on financial status
Thursday July 25, 2013 | By:Justin Graham | News
CONCORD — Director of Governmental Services Laura Landers addressed the Concord Town Board about its 2012 audit, during its July 11 meeting.
“Until you drop to a 0 percent tax rate, the sharing of non-property taxes is limited,” Landers said. “Capital projects are at a deficit of $20,000, which will potentially be eliminated, when you pay off annual appropriations, or through personal financing.”
The certified public accountant said that the town of Concord has enough cash funds to cover any liabilities. The municipality’s general fund contains a surplus of approximately $97,000. The fire protection deficits were listed at $6,300.
“Overall, the town looks to be in a very solid financial position, in regards to operations,” Landers said. “I also see that the town is being conservative, in the matter of non-property taxes and having economically sensitive revenue is beneficial to the town.”
She added that the only deficit she could find was from the library, at $4,200, “and all the rest of the funds had surpluses.”
In regard to property taxes, she said, “If you don’t need to levy property taxes, the sales tax can be allocated amongst the town’s funds.”
Concord Town Supervisor Gary Eppolito clarified that, “as a class B town, we are not required to do a yearly audit, by New York state law. However, Concord considers it imperative to do an audit, yearly. We are very conservative and have healthy fund balances. It has not been easy.”
The tax year runs from June 1 – May 31.
In other board news:
– The town board has requested that the intersection at Route 240 and Genesee Road be investigated. “There have been numerous accidents here and we are requesting the state or county investigate the matter,” Eppolito said, adding that he believes the present caution light is not effective enough. “With the location of fire trucks on the corner and, with the heightened volume of traffic at rush hour, this only adds to the risk of further accidents.”
– The second annual Fiddlers Green Country and Bluegrass Festival is scheduled for Aug. 3. The event will be held on Franklin Street, from Fiddlers Green Park to the Concord Historical Society’s general store at Franklin and Main streets.
The next town of Concord Board meeting will be held at 7 p.m. on Aug. 8 at the Concord Town Hall.