Thank you!
Your support is sustaining the future of local news in our communities.

Centrella: Town’s general fund balance is only $300,000

WINSTED — According to town Finance Director Henry Centrella, the town has approximately $300,000 left in the general fund balance portion of its 2010-11 fiscal year budget.The 2010-11 fiscal year is set to end on June 30.Centrella said that the figure is an estimate and the town will have a better estimate on the figure when the fiscal year ends.“We still have a month-and-a-half to go,” Centrella said. “As of right now, the town has not run out of money.”Mayor Candy Perez said it might be possible for the Board of Selectmen to find budgetary savings of up to $200,000, if necessary, and put the savings into the fund balance of the budget.“I’ve been worried about [the fund balance] for a long time,” Perez said. “The interesting thing is that in fiscal 2007 we had $1.7 million, but it’s been going down ever since.”Speaking at a special Board of Selectmen’s meeting on Wednesday, May 11, Selectman Glenn Albanesius said he is also worried.“This town is a couple hundred thousand dollars away from going out of business, and that’s reality,” he said. “This town is almost bankrupt. The fact of the matter is that we have to make decisions to keep the town afloat.”In December, Moody’s Investor Service downgraded the town’s general obligation bond rating from Aa3 to A1. A general obligation bond is a type of bond secured by either state or local governments that acts as a pledge to use resources to repay bond holders. Moody’s Investors Service, which was founded in 1909, is a national credit rating agency that conducts financial research and analysis on commercial and government entities. According to the report issued by Moody’s, a major factor in downgrading the town’s rating is due to the decline of the general fund balance.At the end of fiscal 2009, the town ended with a total general fund balance of $991,000, down from $1.63 million in fiscal 2007. Back in December, Moody’s projected that fiscal 2010 would see a further decline in the balance to $686,898, representing a 30.1 percent decline from fiscal 2009. “Operating deficits have been driven primarily by unfavorable budget to actual variances caused by overspending on education, employee salaries and public safety,” the report states. “The town did not budget to appropriate any fund balance in 2011, but management indicated that continued overspending on education is likely, which could require the use of reserves.”

Latest News

After 15 years, Black Rabbit owner says goodbye

Black Rabbit owner Kendra Chapman outside her Lakeville restaurant on Sunday, Nov. 8, its final day after 15 years in business.

Patrick L. Sullivan

LAKEVILLE — After 15 years running the Black Rabbit Bar & Grille, Kendra Chapman decided it was time to stop working 70-hour weeks and spend more time with her family.

The restaurant at 2 Ethan Allen St. closed Sunday, Nov. 8, following a busy final week filled with farewells from longtime customers. She announced the Nov. 8 closing date on Oct. 31.

Keep ReadingShow less
Northwest Corner libraries offer laptops to eligible residents

Sarah Marshall, director of Kent Memorial Library, displays a laptop available through the Laptop ConneCT Library program, now offered at all town libraries in Region One.

Ruth Epstein

NORTHWEST CORNER — Libraries provide much more than books nowadays, and eligible Connecticut residents now have another resource available.

All six libraries in the Region One school district are participating in Laptop ConneCT, a program that allows eligible residents to borrow laptops for long-term use.

Keep ReadingShow less
Kent library honors Sam Callaway as Volunteer of the Year

KENT — Sam Callaway is this year’s recipient of Kent Memorial Library’s Volunteer of the Year Award. The presentation was made by library Director Sarah Marshall at Sunday’s Volunteer Luncheon held at the Community House.

Callaway, an architect, has provided extensive free architectural services over many years for the new library building, which is under construction.

Keep ReadingShow less
google preferred source

Want more of our stories on Google? Click here to make us a Preferred Source.

Police Blotter: Troop B

Police Blotter: Troop B
Police Blotter: Troop B
John Coston

The following information was provided by the Connecticut State Police at Troop B. All suspects are considered innocent until proven guilty in a court of law.

North Canaan DUI

Keep ReadingShow less
Sharon median home price reaches $710K, up 16% from a year ago

This home at 88 Sharon Valley Road, set on 6.9 acres with several outbuildings, sold for $675,000.

Christine Bates

SHARON — The median sale price of a single-family home in Sharon reached $710,000 for the 12 months ending Oct. 31.

The median, which excludes condominiums, was 16% higher than the $610,000 recorded for the 12 months ending Oct. 31, 2025, and 5% above the $677,500 recorded for the corresponding period in 2024.

Keep ReadingShow less
Free help navigating Medicare options in Falls Village

Amy Wynn, left, explores Medicare options with Amanda Halle at the David M. Hunt Library Nov. 5.

Patrick L. Sullivan

FALLS VILLAGE — Amanda Halle of the Western Connecticut Area Agency on Aging (WCAAA) was at the David M. Hunt Library Thursday, Nov. 5, to offer assistance with Medicare enrollment.

Halle explained that WCAAA is a nonprofit agency based in Waterbury that offers free assistance for people trying to navigate the intricacies of Medicare.

Keep ReadingShow less
google preferred source

Want more of our stories on Google? Click here to make us a Preferred Source.

google preferred source

Want more of our stories on Google? Click here to make us a Preferred Source.