Newtown's Money Matters: A Look at the Town's Financial Moves

Town's Savings Grow

Newtown's General Fund balance has increased to approximately $13.46 million. This is positive news, as it provides a financial cushion for unexpected expenses.

Investment Advisor Fees Approved

The board approved spending $23,250 on investment advisor fees. However, the town has earned more from investments, so this expense won't strain the budget.

Healthcare Costs and Fund Shortage

Healthcare costs are rising, and the town's health fund has been running low. The board reviewed a plan to address this, including adjusting health insurance costs and finding cost-saving measures. This impacts all town employees.

Insurance Rules for Contractors

The board discussed updating insurance rules for contractors to ensure clarity and protection for the town.

Committee Updates

• One committee is now meeting less frequently.
• Another committee reported progress on school repairs and other major projects.

Public Comment

No members of the public spoke or made announcements. Despite the quiet night, several important decisions were made.