EagleTribune.com, North Andover, MA

July 10, 2013

Haverhill closes books on fiscal year

By Shawn Regan
sreganeagletribune.com

---- — HAVERHILL — City Council closed the books on the fiscal year that ended June 30 last night by approving $872,000 in budget transfers.

The largest transfer was $644,000 from a reserve cash account to pay $659,000 in expenses related to plowing snow and treating roads last winter. Snow and ice budgets are one of only a few areas where communities are allowed to run a spending deficit, as long as they pay the bill by the end of the year.

Another large transfer was $25,000 from the Fire Department’s salary account to its expense account. The mayor said the salary surplus was the result of the department using less overtime. He said the savings will be used to buy equipment and eventually put toward a new bucket truck later this year.

“Each and every one of our department heads carefully watched their budgets throughout the fiscal year,” the mayor said in a letter to the council. “Each one of them finished either on budget or with a surplus. ... We are still receiving bills, which is normal. However, I am quite confident that when all the bills are in, we will end Fiscal 2013 with a budget surplus for the third year in a row. The credit for this goes to our hard-working department heads and employees.”

End-of-the-year budget surpluses can eventually be tapped by cities and towns once the amount is certified by the state Department of Revenue in the fall.