A larger-than-expected reserve of unspent cash has town officials in Wellesley hopeful that they can avoid asking voters for an operating budget override next summer.
Wellesley Finance Director Sheryl Strother said this week that town departments spent $2.6 million less than they had been appropriated for the 2008 fiscal year, which ended in mid-summer. The town’s financial plan projected a $2.7 million deficit for Fiscal Year 2010.
Normally, said Strother, town departments return about $1 million in unspent funds, but the School Department alone returned $1.3 million.
Still, town officials were urging residents to temper their optimism. Town Executive Director Hans Larsen told the Board of Selectmen that it’s too soon to say how much might be turned back from the current FY 09 budget.
Current uncertainty in the economy also leaves “a lot of unknowns” concerning future revenues, he said.
-- Lisa Keen
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