For the fiscal year of July 1, 2012, to June 30, 2013, the town of Boothbay Harbor was able to end the year three percent under the planned budget.
Revenue (money coming into the town) was $23,501.36 higher than expected, while expenses (money leaving) were $196,950.51 lower, giving the town a total savings of $220,451.87, or approximately three percent of the total budget.
The town auditor, William H. Brewer, of Bath, praised the town's efforts and ability to stay on target.
“The town plans ahead, instead of reacting, which is good,” Brewer said. “You don't have to borrow money or raise taxes to get projects done. The Fish Pier is a perfect example of the town biting the bullet and getting a project done with proper planning.”
Board Chairman Bill Hamblen said he was pleased with the audit results, and was glad the town’s efforts were paying off.
“We have a strong allergic reaction to raising taxes,” Hamblen said. “We plan for projects before they become emergencies, so we don't have to spend more money to fix something quickly.”
Town Finance Officer Julia Latter said that Boothbay Harbor had a total cash balance of $2.4 million on June 30, and so far this fiscal year town finances are right on schedule.