Interesting News Concerning Oxford's Proposed Budget Surplus

OXFORD, CT — A discussion at a recent Board of Selectmen meeting about pre-payment of a fire truck lease led to an interesting revelation concerning the town's finances.

The selectmen voted 2 to 1 in support of pre-payment of the Fire Truck and Public Works Truck Lease. First Selectman George R. Temple voted against the proposal saying he is "concerned that if something unforeseen happens there will not be money to pay for it if we prepay the lease," according to meeting minutes.

But Board of Finance Chairman Jack Kiley said there is a current surplus of $5 million and by the end of the fiscal year, which is June 30, 2019, there should be an additional $2 million surplus, according to meeting minutes.

The Finance Board must also approve the pre-payment before it's finalized.