Let's dig into the "facts" a little more. Did you know that at the end of last 2020 fiscal year, the town had an unassigned fund balance of over $5.4million that at the time, represented 55% of the TOTAL ANNUAL town general fund expenditures (page "v" of 2020 Annual Audit Report). Did you know that the 17+% fund balance is calculated using not only town expenditures but also includes the gross expenditures of the SAU45 school district, Carroll county assessment, and the state wide education assessment levy (same page "v" of 2020 Anual Audit Report)? Did you know that, on top of the 17+% unassigned fund balance that the town has additional specially designated trust fund reserves of $5.9 million (page 128 of 2020 Annual Report) as of the end of 2020? Did you know that the schools also have unassigned fund balances and health cost reserves ON TOP of the town amounts (ABC report on schools dated 1/26/2021)? The town is not poor by any measure. It seems to me there are PLENTY of reserve funds available. And no, we do not need a new library, new police or fire station, town hall, etc. etc. And nobody has said how much more unassigned funds will be added to these totals once the current fiscal year results are known. It may very well be that the 18 month budget had extra amounts that will be unexpended by the time the year closes. As a result, I respectfully say your arguments for a high reserve fund balance are not factually based and therefore absolutely not valid.
Let's get real honest here. The bulk of property taxes come from lakefront assessments where the majority of folks cannot vote on town expenditures. Warrant articles for many items show funding from the unassigned fund balance. By keeping the unassigned balances high and not returning excesses to taxpayers who actually paid the extra amounts, it is easy to fund and vote on discretionary projects by saying money comes from unassigned and not from the tax rate. Ah, not impacting the tax rate makes it so much easier for town meeting to approve the expenditure. Ms. Beadle was clear in wanting to hold these balances high for exactly this reason. So the many lakefront owners who have no say at town meeting are funding these excess reserves that are not being returned to taxpayers who overpaid in the first place. Mr. McGee was clearly advocating to return a larger portion of the excesses to the taxpayers and in my opinion should be applauded for that.
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