Citizens committee chairman worried about Boardman finances

BOARDMAN — With a possible $1 million deficit by the end of 2009, members of a business citizens committee worry about the township’s finances and believe residents should too.

“There are significant concerns,” said Jim Rosa, who heads the 11-member committee formed last year to offer input and recommendations to township officials. “The township has barely enough money to maintain itself.”

He pointed to 2008’s budget. It was projected to break even with $18 million in revenue and $18 million in expenses.

“Actual revenues in 2008 were reported at about $14 million and $18 million of expenses,” said Rosa, who is an accountant.

The lower-than-expected revenue was mostly attributed to lower real estate tax collections and inheritance taxes.

For 2009, projections are for revenue to be about $16 million with about $17 million in expenses, resulting in a $1 million deficit.

In 2008, the township used about half of its $6 million carryover. About half of the remaining $3 million is restricted to specific purposes. The remaining $1.5 million is expected to decrease further after this year, Rosa said.

“It appears that the unrestricted carryover funds could be gone in 2010,” Rosa said.

Larry Moliterno, trustees chairman, agrees that the township’s financial situation isn’t good. “The bottom line is that, if you look at the numbers,” he said.

Read more in Thursday’s Vindicator and Vindy.com