Mansfield town and school officials announced Tuesaday that the budget has now been balanced using one-time use free cash funds, school cuts and slight revenue increases.
According to the Sun Chronicle, $1.37 million of the funds found to balance budget came from a one-time use "free cash" fund that was originally designated for accrued retiree health care costs, road improvements, breathing apparatus for the fire department and repair work on a crack in the wall at the Mansfield High School gym.
The town will also now borrow $1 million to repair the high school gym and repair roads. The road loan will be paid over 20 years at 4.5 interest and the gym repair loan will be paid over 10 years at the same rate.
Here are other details of the budget:
$140,000 increase in new growth and $200,000 increase in local receipts.
$322,915 increase in state aid, via state education funds and unrestricted municipal aid.
$106,204 increase in school revolving fund usage.
$200,000 taken from the pension reserve.
$230,000 reduction in school employee benefits paid by the town budget.
$433,280 in cuts for school "enhancements," and an additional $89,600 in school budget cuts.
$24,594 in cuts to town salaries and $68,205 cuts to employee benefits.
$100,000 taken from the finance committee's reserve fund, which leaves the fund at $150,000.
For more info, check out the whole story here.