, Derry, New Hampshire

March 21, 2013

Officials to Council: Derry's finances are healthy

By Julie Huss

---- — DERRY — The town has its finances in good order.

That’s the word from Chief Financial Officer Frank Childs, who, along with Controller Janice Mobsby, presented a report on the town’s financial health through the end of December 2012.

“We’re doing well,” Childs told the Town Council. “The balance sheet is in good shape.”

Childs said the overview also shows a healthy general cash fund of $55.6 million, up from $53.7 million in the prior year.

He also noted unpaid current taxes increased $194,000 to $3.5 million during the past year. Part of the increase, $60,000 is due to slower collection rates, most likely due to the transition with a new tax collector taking over the job last fall.

Other areas Childs is keeping watch over include the amount of revenue raised through the town’s recycling efforts and ambulance revenues.

Both areas of revenue are decreasing, Childs said.

In the case of recycling, he said volume is high, but cost per unit of recyclable item has gone done.

Ambulance fees also show a decline. Childs said that area will continue to be monitored to make sure payments “ get to the right places.”

The town’s fund balance is healthy at $148.6 million, he said.

Childs also told councilors that everything is on budget for 2013 with vehicle registrations, although the economy had decreased the number of new vehicles registered with the town.

Some families also registered one vehicle instead of two.

Building permit numbers dropped as well and fell under what was originally budgeted for, Childs said.

Town Administrator John Anderson told councilors the winter snow and sand budget was in good shape.