Finance director reports Bedford’s finances in good shape
Finance Director Crystal Dionne presented the 2012 end-of-year report to the town council at its July 17 meeting. The 2012 report audit, published June 21, was conducted by Melanson Heath and Co.
“Typically, anything over 10 percent is viewed as high. That is comparing the percentage of your debt to your total budget,” she said.
“We’re debt free in 10 years. Our debt service payments will be significantly higher than a municipality that spreads it out over 20 or 30 years,” she said.
Also discussed were property tax collections, which for 2012 are consistent with recent years.
In 2012, taxes levied were $68,336,044, with $66,270,488, or 97 percent, in payments received. Outstanding property taxes amounted to 2,065,556, or 3 percent.
Dionne also presented her goals for 2013 – work with the new CIP Committee, address possible change to the town’s fiscal year, enable credit card processing, purchasing and investment policy revisions, and look at structural balance budgeting.
“The finance department is just a part of it. The demographics of the community, the growth of the community and the very stable tax base, and things I don’t have anything to do with, play a significant role. The whole community should receive the accolades,” Dionne said.
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