Tolland to End Fiscal Year With Estimated $300,000 Surplus

The Town of Tolland will close its fiscal year with an estimated surplus of nearly $300,000.

The surplus is due to strong tax collection, other higher than anticipated revenues and lower than expected budget expenditures, according to information put together by Director of Finance and Records Lisa Hancock.

The town has a 99 percent collection rate on taxes.

Officials also took in nearly $84,000 more than expected in building permits, Town Clerk fees and tuition from out-of-district students.

Expenditures are estimated to be under budget by more than $111,000, more than $75,000 of which comes from the Board of Education.

Hancock is scheduled to give a full presentation at the Town Council meeting on Oct. 28.

Image via Shutterstock.

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