Shelton came out of the last fiscal year with a surplus, albeit a smaller one than the year before at $2.7m.
According to Mark Lauretti, the mayor of Shelton, extra money went to snow plow equipment and enhancements for safety in the school system, without which the surplus would have been more comparable to the previous one. Some of the excess funds came from a large audit for business equipment inspection and taxation.
Instead of selling bonds, the city used the excess funds it had. Lauretti stated that bonds are better used on constant expenditures rather than one-off purchases. Board of Alderman president John Anglace agrees.
Last year's surplus totaled $7.5m, leaving excess funds to implement new programs. Lauretti assured that Shelton is thriving financially, adding that he believes that any Connecticut city would be happy to swap financial positions with it. He also mentioned the optimal residential and commercial tax rate.
Alderman may put aside some of the extra money for worker's medical care and compensation. The money would serve as emergency funds since the city has its own insurance.
If families were thinking of moving to Shelton to take advantage of the surplus and the lower tax rate, a printing company could Print Brochures explaining the other features of the city and why it would be in the family's best interest to move here.Get a Free Quote for Brochures Get a Free Quote for Print
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42 Bridgeport Ave
Shelton, CT 06484
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