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By KARA O'CONNOR

Villager Staff Writer


WILTON -- Preliminary numbers for the past fiscal year are in and, according to one town official, it looks like Wilton will end up in the black.

"These numbers are very preliminary," said Chief Financial Officer Sandy Dennies about the fiscal year summary. "But it looks like Wilton will end up with a small surplus."

Dennies said Wilton currently has a surplus of $3 million, but at the end of August, when all the bills are paid off, it will likely end up with just $269,206.

"We have a large surplus right now but we have to pay a lot of bills," said Dennies. "I won't know the final number until the end of August, but I think we are still going to end up in the black."

One reason the town should end up in the black is because the tax revenue exceeded what the town had budgeted, Dennies said. The town's property tax is the main reason for that, she said.

"The current property tax is $500,000 more than anticipated in the budget," said Dennies. "The other reason we should end up positive is that Wilton has a 99.4 percent tax collection rate and the town only budgeted for a 98.7 percent rate."

Dennies said the expense side of the budget has spent more than what was budgeted, but that is typical.

"The Board of Education's special education budget went over what we had budgeted, but an audit adjustment will take care of that," said Dennies. "Other than that, the departments in town have budgeted their money fairly well."

First Selectman Bill Brennan said he is pleased with the year-end report.

"In a nutshell, this is a favorable report," said Brennan. "If you look at how all of the departments in town did overall, I think everyone was very successful. The numbers that came in were better than we thought, and that is always a good thing."

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