CORNWALL — Cornwall will end the fiscal year with a roughly $70,000 surplus after approving a series of year-end budget transfers to cover unexpected expenses, including higher student transportation and legal costs for the Board of Education.
The Board of Selectmen approved the transfers at its July 21 meeting. First Selectman Gordon Ridgway said the town remains on solid financial footing despite budget pressures across several departments.
“We are in good shape ending this year, I believe there’s still about $70,000 in surplus after this to go back to the general fund,” Ridgway said. “So we ended up in the black, as we have to. But as you can see, there are cost pressures across the town budget.”
Ridgway said a long, harsh winter placed additional strain on highway equipment, contributing to higher maintenance costs. At the same time, he said, the town saved roughly $80,000 because the highway department was not fully staffed.
“Next year is going to be a challenge,” Ridgway said. “We can increase the budget somewhat, but we will not have that until we have completed the complement of highway workers. So we will not have that cushion of having a reserve at the highway department. But anyway, one year at a time.”
The transfers were approved by the Board of Finance on July 16, Ridgway said.
“Our goal is to try to hit this sweet spot where we don’t have extra money in the budget-- so that we don’t overtax-- but we have enough to do everything,” Ridgway said. “Especially dealing with some of the unforeseen things that can pop up, like utility rate increases or legal fees or transportation costs or bad weather. So, I think we’re in a very good spot.”
In other business, the board awarded a $114,265 paving contract to LB Corporation, the lowest of four bids submitted for the work by about $14,000. The bid covers paving two new pickleball courts on Foote Field and repaving of Hall Road, Great Hollow Road and Town Street South.
Before closing the meeting, Ridgway also highlighted several August community events, including a book talk and signing by author, artist, and Yale professor Adam Van Doren, the Cornwall Historical Society auction, and the Rose Algrant Art Show.
