Town of Delafield in good financial shape

State budget cuts to create a 'precarious place,' auditor says

By Jim Stevens

Posted: April 25, 2011

Town of Delafield — The town has a healthy reserve fund for future purchases, but tough times lie ahead, according to the town's financial consultant.
Howard Jeanson presented the audit of the town April 13 during the town's annual meeting and noted the town has a fund balance of nearly $1.5 million.
Half of that amount is designated for the town's replacement funds, he said.
The Town Board has historically set aside funds annual for major purchases, such as vehicles for the Fire Department or Department of Public Works.
However, Jeanson said that Gov. Scott Walker's proposed budget-repair bill calls for a zero percent levy increase for local governments.
The bill does allow for a levy increase based on growth, but in the town during 2010 that was only 0.2 percent Jeanson said.
"In the past at least we stayed with the rate of inflation, about 3 percent. We can't do that with the levy limit," he said.
The proposed bill also calls for cuts to state shared revenue and transportation aid.
Jeanson said the town is looking at losing $130,000 in state aid.
The state, he said "is not giving them (municipalities) the tools to replace the funds. It's a very precarious place for municipal governments," Jeanson said.
Jeanson also noted that the economic downturn, which has resulted in virtually no interest being earned on savings, has hit the bottom for revenues. Jeanson said while the town had earned about $200,000 in interest in past years, in 2010 it was less than one-tenth of a percent at about $28,000.
The actual amount was about $49,000 less than was projected for the year, he said.

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