Topsham to adopt revenue adjustments
TOPSHAM — The Board of Selectmen is scheduled to vote Thursday on several budget adjustments to cope with a nearly $210,000 shortfall in revenue sharing from the state.
The town estimated it would receive about $721,000 for fiscal 2014, but instead got an estimate of $512,000 from the state, Town Manager Cornell Knight said last week. The Board of Selectmen discussed ways to cover the gap July 11, and has consented, along with the Finance Committee, to several savings proposals.
Both panels opted to offset the loss in part with about $22,000 in excess revenue sharing funds from fiscal 2013. The town would also not replace an assistant assessor and delay hiring a public works truck driver, which would save approximately $90,000.
Savings of $22,500 in solid waste would also offset the loss, Knight said. A delay in funding paving projects would also save about $72,000, and $2,300 in leftover equipment funds would also be applied.