Wilton will use $42k in excess bonds for roads
The Wilton Board of Finance has approved re-allocating $42,394 in excess bonding funds to the town’s road program.
At the board’s meeting on Oct. 15, Anne Kelly-Lenz, the town’s chief financial officer, said the town had $42,394 in excess funds from several completed projects:
$7,894 left from $595,000 allocated for the purchase of a fire truck in 2015.
$4,771 left from $650,000 for the turf stadium in 2016.
$15,916 left from $450,000 for tennis courts in 2018.
$13,813 left from $100,000 for the Middlebrook School elevator in 2018.
She said the town has the ability under its charter to apply the excess funds to debt, or to authorized but not yet bonded projects.
In a letter, the Board of Selectmen recommended applying the funds to the road program, and the finance board agreed.
Using these excess funds, the town can apply for $42,394 less in future bonding for the road program, Kelly-Lenz said.