8388_LGP_MechanicFalls_2022AnnualReport_Web

TOWN MANAGER

March 1st, 2023

To The Citizens of Mechanic Falls:

How time flies! It’s hard to believe that another year is in the rearview mirror. This past year saw several positive steps for the Town. Some of those steps included the installation of LED Streetlights throughout town, the top coat paving of Walker Road, an updated cell plan for the landfill at the Transfer Station, and an engineering report on the Town office building.

I do want to take a moment and thank our staff for all that they do for the town… they are the soul of our operation, and they are heroes. Every day they work hard in their respective roles to serve you. Please be sure to thank these folks when you see them. Positive words are always appreciated. In addition, I also want to thank the Council for their dedication and hard work for the town. They too, deserve your thanks. I can report to you that the financial state of the Town of Mechanic Falls continues to be strong. Our new audit firm has completed the FY ’22 annual audit report, and has the Town’s Undesignated Fund Balance at over 1.5 million. FY ’24 Annual Debt Service comes in at just under $200,000 and, the town currently has over a million dollars set aside in various Reserve Accounts, which will help the town to save money on future interest payments. Looking forward… over the next year we hope to do more road work. Assuming available capital dollars, we will look to put a top coat on the roadwork completed a couple of years ago, this will ensure the maximum life of that roadwork and save the town a lot of money in the future. In addition, we hope to finalize a Road Plan of all the town’s roads… this will be a guide for the town moving forward. It is my goal for the town not to have to borrow for roadwork moving forward, rather to use annual capital money for annual roadwork, saving money on interest payments. Currently, the town borrows $500,000 once every five years… completes whatever roadwork that will pay for… then while paying off the bond, waits another five years to do more work. This is not sufficient to keep your roads in their proper condition. My plan includes setting aside an annual amount of $120,000 and after the current bond is paid off (3 years), adding that payment to the annual set aside amount, making the new base line of annual road work $220,000 per year. This plan will give the town a much better chance of getting the roads where they need to be.

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