$3,348,930"other" revenue in 2025, against a budget of $50,000
The Town's 2025 budget expected "Other revenue" of $50,000. The audited statements show $3,348,930, and almost all of it ($3,240,060) sits in the planning and development column. The year before the same line was budgeted at $50,000 and came in at $1,641,000, with $1,627,500 in planning and development. The statements do not say what the money was. In the same two years the reserve set aside for industrial development went from $1,548,779 (end of 2023) to $24,845 (end of 2024) to $2,880,543 (end of 2025). The Town's budget book says land sales are kept out of the tax calculation and the net proceeds go to reserves, so land sales are one possible answer. We did not find a document that says so.
5.27%increase in the 2026 levy, against a 2.62% tax increase on the rate
The levy is the total the Town must raise from property taxes. The 2026 budget book says staff started at "over a 10.35% levy rate increase" and that the final levy rose "approximately 5.27%", from $7,338,568 to $7,725,569, which it says is a tax increase of "approximately 2.62%" on a rate basis because the town grew. A November 10, 2025 Town release said the Town had been projecting about 6% before the Mayor announced 3% or less. These are different measures, and the Town explains the gap between the levy and the rate: new buildings add taxable value, which the budget book says offset "just over 2%". What we cannot see is what was cut or moved between the 10.35% starting point and the final budget. The budget summary table says the expenditures figure "includes reduction offset from reserves", without an amount. The line-by-line budget tables in the book are pictures, so we did not read them. The Town says the Mayor's budget was deemed adopted on December 5, 2025 without amendment by Council.
$4,972,550left in the water systems reserve at the end of 2025, down from $9,405,591 at the end of 2023
The reserve for replacing water systems held $9,405,591 at the end of 2023, $5,991,249 at the end of 2024 and $4,972,550 at the end of 2025. The 2026 budget book says water payments on new debt were estimated "using a 6.7 m debenture amount", and that the Town will use debt to "smooth the spending from reserves". Long-term debt at the end of 2025 was $6,059,564, and the statements show most repayments recovered from user charges (water and sewer bills), $2,233,333 in each of the next two five-year periods. The Mayor has said the Town has used reserves for projects such as a new water tower, an Elk Street rebuild and upgrades to the water treatment facility, to prepare for growth. The Town has explained this in general terms, but we did not find the total cost of the water tower or how the debenture will be split between water customers and other sources.
$16,812,949expenditures in 2025, against a budget of $14,942,673 in the audited statements
In the statements, total expenditures for 2025 were $16,812,949 against a budget of $14,942,673, which is $1,870,276 more (worked out by us). For 2024 the figures were $15,816,634 against $14,313,523. The largest gaps in 2025 were environmental services ($5,958,244 against $4,988,703) and transportation ($2,017,525 against $1,259,779). The Town's 2026 budget book says that over the past five years it has "maintained close to break-even budget to actual expenditures". One likely explanation is that the statements count amortization (the yearly wearing-out cost of buildings, roads and pipes, which is not paid out in cash) and the operating budget may not. Amortization was $2,159,093 in 2025. Taking it out leaves $14,653,856 (worked out by us), which is under the 2025 budget. We have not seen a Town document that says the budget leaves amortization out.