WILTON, Conn. The Wilton Library is expecting a $71,000 deficit at the end of the current budget year. But the library's trustees told the Board of Selectmen Tuesday night not to worry because the deficit could be offset with surpluses from previous budgets.
"Even though it looks like a deficit vis-a-vis this years budget, library trustee Ann Duffy said, were more than going to cover that both from funds taken from a previous balance sheet and from savings in other parts of this years budget.
She added that the amount of late fees has been higher than expected, which could help buffer the shortfall.
The deficit includes $61,000 in the operating budget and $10,000 for a new Integrated Library System. Duffy said $55,000 of the operating deficit is in the staff salaries account because the fiscal year has 27 pay periods but was budgeted for only 26. The current budget year closes at the end of June.
Duffy said the imbalance in the salary account is something weve known about all year.
The selectmen didnt seem too shocked at the announcement.
Not much change from the last time we met in October, First Selectman Bill Brennan said. There are no surprises here.
Selectman Ted Hoffstatter was concerned whether the surplus from the previous years would be enough, and Duffy said that it would.
We wont come back begging for money, she told the selectmen. I hope.
Click here to sign up for Daily Voice's free daily emails and news alerts.