HOULTON, Maine — The town of Houlton is better off than expected after this year’s annual audit was completed.
RH Smith and Company again prepared the 2014 audit. During the July meeting, Ron Smith could not attend, but spoke to the town manager by phone and related the information. A copy of the audit in its entirety is available at the town office during regular business hours.
The town of Houlton’s undesignated fund balance improved from $484,000 to $924,000 in a year, representing a $440,000 increase.
Town Manager Butch Asselin noted that the town’s excise tax was $80,000 higher than anticipated.
“The ambulance revenues were $110,000 higher, as the issues with ambulance collections were rectified,” explained Asselin. “And, the airport revenues had a strong showing.”
With those increases on the books, the town of Houlton did not have to dip into its $138,000 overlay, said Asselin.
A year ago during Smith’s presentation, he indicated that $700,000 was the desirable amount for the undesignated fund balance for a 30-day operating period.
“We have met that,” said Asselin. “Smith pointed out that our undesignated fund in 2011 was $260,000.”
Smith had minimal concerns for the municipal budget.
“His concerns were Nedra retiring,” said Asselin. Nedra Hanson, town treasurer, has retired after 46 years.
“We lost an institution of knowledge,” said Asselin.
Smith’s other issue was regarding the Tax Increment Financing (TIFS).
“He requested we keep a close eye on those,” said Asselin. “Ron also reiterated that Houlton does not have a spending problem. He said to continue what we are doing.”
