Some of surplus will go to free cash, once the numbers are certified by Massachusetts.
AMHERST - When all the bills were paid and revenue counted for fiscal 2010, the town was about $712,793 in the black, according to a report from John P. Musante, assistant town manager and finance director.
The surplus accounted for about 1.1 percent of the town’s $61.4 million fiscal 2010 budget and was deemed an “extraordinary accomplishment.”
Musante said Monday, “We had to make some very difficult cuts.” With all the changes that had to be made “we managed our way.”
Some of surplus will go to free cash, once the numbers are certified by the state. The town has been slowly trying to rebuild its cushion in recent years, he said. Currently, the town has about $2.6 million in free cash and about $1.4 million in its stabilization account.
But the economy did hurt the revenues of Amherst Leisure Services and Supplemental Education, which brought in about 30 percent less than budgeted.
The combination of fee increases and program reductions “was only partially successful” as enrollment did not meet projections, Musante said. With people having fewer discretionary dollars, camp enrollments in the summer of 2009 were down, as they were for private camps, Musante said. He did not have the numbers for this summer’s enrollment. Leisure Services has already had a significant reduction in staff. For fiscal 2011, there is a more conservative revenue estimate, and programs are being reviewed closely.
Revenues at the town-owned Cherry Hill Golf course were about the same as last year but about 4 percent less than what was budgeted. Receipts covered all operating costs, including employee benefits and capital expenses, he said.
Investment income was down about 80 percent, with the town earning $159,206, compared to $262,531 the previous year.
The town brought in about $225,000 with the local option meals tax, which went into effect in October, which was just about on target. The revenue from a hike in the local hotel/motel taxes was about 82 percent of what was anticipated or bringing in $118,691.
But the town saw a $92,078 savings in the police department because of staff turnover, the retirement of Chief Charles L. Sherpa and the resignation of Capt. Michael Kent. The police communications budget was able to return $65,218 because of a state grant for operations and training.
Also a mild winter allowed the Public Works Department to return $52,955. The town also received $267,813 in higher than anticipated Medicaid reimbursements, plus nearly $60,000 in profit sharing reimbursements from Hampshire Power, an initiative of the Hampshire Council of Governments.