Politics & Government
Ridgefield Officials Project Budget Surplus: Report
The number isn't finalized, but officials say the town should end up with a larger surplus than previously expected.
RIDGEFIELD, CT — At a time where funds are thin statewide, the town is projecting a surplus for the 2016-2017 fiscal year. According to a report from the Ridgefield Press, officials are projecting a surplus of $2 million, an increase of $500,000 from previous projections.
The report indicates the town spent $775,000 less than they expected, and collected $1.3 million more revenue than was projected. The town's tax sale last fall brought in most of the extra revenue.
Controller Kevin Redmon said at the Aug. 29 Board of Finance meeting that the number is not final, but the surplus is good news to a town that was hit with approximately $900,000 of cuts from the state.
Find out what's happening in Ridgefieldfor free with the latest updates from Patch.
Read more from the Ridgefield Press here.
Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.
