MONROE, CT — Lower than expected health insurance rates, salary savings from open positions and retirements, a winter with little snow and an increase in interest income due to higher interest rates all factored into the town budget for fiscal year 2023-24 ending with a $4.7 million surplus. On Thursday night, the Board of Finance approved a total of $1.5 million worth of budget transfers, leaving a $3.2 million surplus.
“It just shows we’re on a fiscally strong path,” First Selectman Terry Rooney said.
The surplus is comprised of $3.1 million from less than anticipated expenditures, which includes $1.1 million in the education surplus, and municipal revenues ending $1.6 million higher than projected…