General Government - Town of Meredith

Executive Summary
Report from the Board of Selectmen
Our Financial Position: Throughout 2012, the Select Board, Town Manager, department heads, and all
employees focused on managing and implementing a severely limited Annual Budget, due to a difficult
national and world economic situation. Goals for fiscal 2008-2012 were to limit funds raised by real estate
taxes to that of 2008, thus keeping the average real estate tax bill approximately level for five years. It has
been achieved, without distressing cuts to citizens, by severely limiting capital expenditures (such a long
range planning trust funds, public works and other equipment, and lowered allocations for road
maintenance). It was possible because our town was in good shape before the recession. The Board
acknowledges that in the future priority must be given to getting back into “good condition”, to adjust for
the constraints of the past five years; Board members are working on this recovery planning. This
transition through the recession period owes a special thanks to our Town Manager and his employee
team.
Catching Up and Adjusting: The budget presented to Town Meeting (see 2013 budget in this Town
Report) will feature $1.7 million funding for capital expenditures including debt service. Many items are
for projects deferred over the past five years, such as road improvements, vehicles for the Police and Fire
Departments, and for informational technology. The remaining money is for Expendable Trust Funds and
debt service as recommended by the Capital Improvement Program committee. The Select Board proposes
$725,000 from the Fund Balance to supplement revenues (as for the past two fiscal years) and to stabilize
the amount raised by real estate taxes. Funds not used will, as in other years, be returned to the Fund
Balance at the end of 2013. An additional $750,000 from the Fund Balance is to be drawn upon to cover
the items cited in the second sentence of this paragraph. Further, the State has ruled that the total of all
Meredith real estate is overvalued by about 10%, with some properties overvalued and some undervalued;
in 2013 all property values will be adjusted, resulting in some real estates bills going up and some down.
Here are some major Meredith projects advanced in 2012:
The Winnipesaukee Playhouse: On the former site of the Annalee Doll Co. is emerging a great new
Lakes Region destination location for the year around, multi-arts, and learning-entertainment center of the
Winni Playhouse. Several years in the making, it has received widespread support from several Meredith
town boards and great numbers of local citizens. Its creation is a welcome addition to our inns, businesses,
and four season community activities.
Meredith Center: a Lakes Region gem, and often under appreciated section of our Town, has seen major
improvements. Starting in 2011 with revamping a garden spot in Meredith Center including a rededication
of its memorial to World War II PFC Erwin C. Young Jr., and continuing in 2012, improvements were
commenced on the historic property of Wicwas Grange No. 292, and for the rebuilding of Childs Park.
In Fall 2012, a wonderful new playground and sports facility was dedicated thanks to team work by the
Town Parks and Recreation Department, the Friends of Meredith Parks and Recreation (FOMP&R), the
Public Works and Water Departments, the Meredith Rotary Club, a memorial gift, of playground
equipment, memorializing Bobby Smyth, and in-kind contributions from many local businesses.
Currently, a community team, led by the Grange and the Greater Meredith Program is at work on
landscaping plans and other improvements in Meredith Center.
2012 Annual Report 11