New Windsor eyes fiscal foundation

January 14, 1994|By Traci A. Johnson | Traci A. Johnson,Staff Writer

New Windsor must better control its money flow and and reorganize its billing structure so the town government can keep a more accurate accounting of its finances, the Town Council agreed last night during a work session.

"This is the one area we want to be perfect on," Mayor Jack A. Gullo Jr told the council. "People will be unforgiving it we mess up here."

Mr. Gullo and the council met to talk about the town's financial situation in planning the next year's budget. The council did not vote on financial issues last night, but members voiced their opinions about how to handle town money.

Councilman Kenny Grimes did not attend the session.

Currently, money is held in accounts at several area banks. The mayor and council considered keeping $100,000 for general fund expenditures in checking and savings accounts at New Windsor Bank, and keeping a reserve account for revenues at Farmers & Mechanics Bank in Union Bridge. Another portion, the mayor suggested, could be invested.

The town currently has about $95,000 in certificates of deposit.

The council members agreed that the government needs funds ready for imminent expenses, such as drilling for a new water source and building a pump station, which Mr. Gullo said would cost a total of about $100,000.

Although the council unanimously agreed on the financial reorganization, no decision was made. The issue is to be discussed at the next council meeting Feb. 2.

In other business, the council decided to let well drillers enlarge the hole they dug and continue to pump water despite continued turbidity of the water struck on the property off Route 31 across from Ryland Homes.

The mayor said the test well is pumping 200 to 350 gallons of water per minute -- far more than the 150 gallons per minute the town is seeking -- but the water is far too cloudy to meet government standards.

The council agreed to the additional work, which involves putting casings in an 8-inch-wide hole to keep out mud that has been mixing with the water. The work will cost $5,000.

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