TREASURER – COLLECTOR – TOWN CLERK
RECONCILIATION OF
TREASURER’S CASH AND CASH INVESTMENTS
YEAR ENDED JUNE 30,
2006
TREASURER’S BALANCE JULY 1, 2005 |
$19,101,741.97 |
| Cash receipts |
35,562,722.81 |
| Cash disbursements |
33,561,320.53 |
TREASURER’S BALANCE JUNE 30,
2006 |
$21,103,144.25 |
COMPOSITION
OF BALANCE ON JUNE 30, 2006 |
Petty cash |
$678.00 |
PeoplesBank –
Checking/Savings |
14,887,980.07 |
UniBank |
0.00 |
Fleet – Trust
Funds |
1,393,258.73 |
Fleet – Sub
divisions |
1,287,755.06 |
Bank North –
Money Market |
8,585.62 |
Merrill Lynch |
3,022,304.06 |
Massachusetts
Municipal Depository |
502,582.71 |
Total |
$21,103,144.25 |
During 2006, we began the borrowing
process of $4,685,000 in long-term general obligation bonds at a rate just
under 4.00%. The rate was one very favorable for this type of long-term
borrowing. The majority of the bonding was for classroom modular’s, school,
town hall and senior center building improvements and remodeling, computer hardware
and departmental equipment. Moody’s Investors Services confirmed the Town’s
rating of a very strong A-1 for long-term borrowing. We continue to optimize
ways in which to invest the Town’s money. With Certificate of Deposit yields
increasing during the year due to Federal rate increases, we have moved the
town’s monies from the bond market to maximize are investment income using high
yield and low risk investment vehicles. Our investment income increased from
2005 due to higher yields and account balances in our Financial Institutions.
In 2006, we have maintained a
tax collection rate of nearly 99.0% with the balance collected in subsequent
years. The Town has purchased one centralized software package for all
departments, especially one that merges the Accountant and Treasurer offices
together. Munis was chosen and the transition is continuing. We are hoping to
streamline current payment methods, begin on-line tax payments, and improve the
integrity and security of the data with our new system.
We will continue to implement
cost savings and efficiencies in our office in the hopes of staying within our
budget as well as upgrading the way we currently perform our functions.
I have been fortunate in receiving cooperation from all
who work in the various town departments and look forward to the new challenges
in 2007. Also, I must express my appreciation for the staff in the Clerk /
Treasurer / Collector’s office that professionally and efficiently handles the
large volume of business in a growing community on a daily basis.
Respectfully submitted,
Thomas P. Florence
Town Clerk, Treasurer,
Collector
