Houlton finances in good shape Auditor delivers six-month review

HOULTON – A customary six-month review of the town’s finances brought good news to town councilors during a recent meeting.

Ron Smith, managing partner for the town’s auditing firm, RHR Smith & Co. of Buxton, appeared before the board to present the findings of the 2007 midyear review of the municipality’s financial statements.

The town’s charter requires that such a financial review take place every six months.

Smith told councilors the review showed “no signs of overspending” on the part of town officials and added that municipal revenues were coming in “stronger than expected.”

“We expect we’ll give you good news come December 31,” he said, speaking of the time when the firm will deliver its next review of the municipality’s financial statements.

The town has received good news on the financial front for several years.

In 2005, the town dipped into its surplus account after a municipal revaluation to lower the mill rate from $26.50 per $1,000 of valuation to $18.50 per $1,000 of valuation.

That rate was in effect for two years, until councilors voted unanimously in July to transfer $400,000 from the municipal surplus fund for the purpose of reducing taxes.

The decision lowered the tax rate from 18.5 mills per $1,000 of valuation to 18.25 mills per $1,000 in valuation.