10 08 2025 BOF Regular Meeting Agenda & Backup Documents

INTERDEPARTMENTAL MEMORANDUM 
 
Date:  
October 1, 2025 
To: 
 
Shea Davy, Purchasing Agent 
From:  
Paige Walton, Assessor 
Subject: 
Proposal Evaluation and Award Recommendation for BID #26-001 
 
 
Complete Reappraisal and Revaluation of All Real Property (Taxable and Exempt) 
 
 
In response to Bid #26-001, the Assessor’s office recommends awarding Waterford’s upcoming 
2026 town-wide property revaluation project to Vision Government Solutions Inc.  
This decision was made after a thorough individual and collaborative evaluation process 
conducted by both the Assessor and Assistant Assessor.  Based upon their proposal and 
experience, Vision Government Solutions offers the most experience and best value in support 
of Waterford’s revaluation needs.  
While the full project cost quoted by Vision was $235,000, the proposal included two cost-
saving options, to omit after-hours callbacks and to omit the inclusion of self-addressed 
stamped envelopes for data mailer responses. After careful consideration, we have determined 
that exercising these two options will have no impact on the final work product.  Furthermore, 
the resulting $25,000 savings allows the town to retain the services of a specialized appraisal 
firm to assist in the valuation of Dominion Millstone Nuclear Power Station. 
As such, I recommend Vision’s revaluation update proposal with data mailers (no self-
addressed envelopes included) and limited inspections with no after-hours call-back 
requirement for an overall cost of $210,000.   
The Assessor’s office looks forward to working closely with Vision Government Solutions in the 
coming months to ensure an efficient and successful revaluation process. 
Funding appropriation requested in the amount of $210,000 from: 
10140-57639 (Transfers to CAP & NRE Funds) to 
20501-57369 (CNR Revaluation) 
 





























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FIFTEEN ROPE FERRY ROAD   
WATERFORD, CT 06385-2886 
 
 
 
 
BOARD OF FINANCE 2026-2027 BUDGET REQUEST GUIDELINES  
 
 
DATE:  September, 2025 
 
BUDGET REQUESTS NOT ADEQUATELY PRESENTED OR JUSTIFIED MAY BE RETURNED, REDUCED, OR 
SIMPLY NOT APPROVED. 
 
SECTION A:  GENERAL INSTRUCTIONS 
 
All Town departments, boards, commissions and agencies are directed to use the following 
guidelines, attachments, and forms in the preparation of your Fiscal Year 2026-2027 budget.   
 
1. Every budget line item should be justified and explained to the maximum extent possible.  
The amount requested should not be a percentage increase from the previous year’s 
expenditure.  This includes detailed lists of all expenditures using, as a minimum, the previous 
24 months’ values.  For certain measurable items such as electricity, heat and gasoline, a 
minimum of 24 months of history should be disclosed to justify the volume of units used in 
calculating the need for FY2027. Please include the number of units being used to calculate 
your 2027 budget request.  If anomalies exist causing the 24-month historical use to be 
inaccurate, do not use it; however, please include an explanation on how the proposed 
budgeted amount was calculated.    
 
When applicable and measurable, please report metrics which reflect the level of service 
being provided annually by your department, examples as per below. 
 
• Number of Personal Contacts (Rec & Park, Youth & Family, Seniors, Library) 
• Number and Type of Responses (Fire and Police) 
• Measures of Foot Traffic (Town Hall Offices) 
 
These are types of indicators which will help justify requested budgets and changes from year-
to year.  
 
2. Comparisons to prior year budgets should be based on what was appropriated by the RTM, 
(i.e. do not include mid-year appropriations).  Be sure to identify any new cost items that have 
not appeared in earlier budgets. 
 
3. To ensure purchase quality, provide consistency and to determine appropriate costs for each 
item, all budget requests for the purchase of any equipment or supplies MUST be reviewed by 

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the Director of Finance or the Purchasing Agent in the Finance Director’s absence. When 
possible, similar equipment will be purchased for all departments to save costs for 
maintenance and supplies.  
 
All equipment must be budgeted under the equipment line and not under other lines (i.e. 
other supplies or maintenance of vehicles, etc.). 
 
4. Provide a detailed breakdown of all service contracts and maintenance & repair costs. These 
shall be reviewed with the Director of Finance or Purchasing Agent to ascertain if cost savings 
can be achieved by servicing similar equipment from many departments under one bill with 
prorated costs.  In addition, all such budget requests MUST be reviewed by either of these 
individuals to ensure all costs are consistent and appropriate.  Maintenance and Service 
contracts related to IT and Software & Hardware will be budgeted within the Information 
Technology Budget.  Please ensure your requests are forwarded the IT Manager to ensure 
they are included in the IT Budget Proposal. 
 
5. Personnel budgets for each department are established based on the number and 
classification of employees disclosed at the budget hearings.  Department heads must provide 
explanation for variance(s) between the annual personnel survey report provided by the 
Human Resources Director and the budgeted personnel count.  Transfer of funds from one 
51000 series line item to another for the purpose of creating additional positions or change of 
classification requires prior approval by the Personnel Review Board.  Departments Heads 
must disclose the assignment of any costs associated with re-assignment of personnel outside 
of their normal work function.  Please attach a detailed listing of positions under each 
category (i.e. administration).  Finance will provide Department Heads with information for 
your personnel budgets (i.e. salary, fringe benefits, etc.); however, finance staff will work with 
Department Heads to calculate overtime and other hours for specific departments. 
 
As detailed in #9, if a position is to be funded through a grant, the budget request must 
include the name of the grant, amount of grant funds requested and the total cost of the 
position if the grant award is not received. 
 
6. Provide a detailed listing of specific dues, conferences and other educational expenses and a 
rationale for this need.  These costs must be disclosed within this classification and not 
included under Training.  The Training Line Item must be restricted to mandated or required 
training only. 
 
• Provide a five-year history of mandatory training 
• Describe the changes year-to-year as the schedule requires  
 
7. Accounts with a $1 budgeted will be zeroed out and removed.  If funds are needed in a 
zeroed out account, a transfer request can be submitted with justification. 
8. A certified audit report of all funds appropriated during the last completed fiscal year should 
be supplied by public health nurses, Ledge Light Health District, seCTer, library and social 
service agencies.  Requests should also include a reporting of total Waterford residents 
serviced. 
 

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9. Any organization that receives funds from source(s) other than the Town or anticipates 
receiving funds from source(s) other than the Town is requested to disclose the source(s), 
amount received/anticipated and how those funds are or will be used.  Any organization that 
receives funding from outside sources and does not disclose those sources is required to 
provide an explanation.  For each source of funding please provide the amount received in the 
previous fiscal year, the amount received or expected in the current fiscal year and any 
amount expected in the next fiscal year, including grants.  In addition, for grant funds, include 
the line item from which the funds were expended, as well as a projection of anticipated grant 
funds for the next fiscal year. 
 
• The Utility Commission must provide a copy of its Sewer Enterprise Fund’s current 
fiscal year operating budget and its projected operating budget for Fiscal Year 2025-
2026. 
 
10. Director of Fire Services is requested to provide a summary by line item for each company.   
Individual fire company allocations should be detailed in each fire services account line.  A 
summary by account number for each fire company should be included at the end of the 
budget request. 
 
11. The Youth and Family Services Bureau, Recreation and Park Department and the Senior 
Citizens Commission are expected to provide a summary of the past, current and projected 
size of each program and any revenue vs. cost information associated with fee based 
programs.  Provide a 3-year history of all programs offered but were subsequently cancelled 
and provide the reason for the cancellation. 
 
12. The Youth and Family Services Bureau, Recreation and Park Department and the Senior 
Citizens Commission shall provide a full accounting report for any grants, donations or special 
revenue received from sources other than the Town of Waterford for Fiscal Year 2024-2025 
and current data on Fiscal Year 2025-2026.  Said reports MUST be attached to the department 
Fiscal Year 2027 budget request. 
 
13. All departments MUST include a “Looking Ahead” paragraph.  The Board of Finance is 
requesting a summary of a department’s long-term need projections to include staffing 
changes, contract changes and negotiations, and a bird’s eye view of capital needs.  Any 
department budgets without this overview may not have their budget request reviewed and 
approved until it is submitted. 
 

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SECTION B - FINANCE DEPARTMENT INSTRUCTIONS 
 
1. Review your schedule of fees charged, providing the rationale for those amounts.  Please 
report your revenues on the Schedule of Revenue.  This form should be used to report 
General Fund revenue only. 
 
2. Personnel costs for general government employees covered by expired or expiring union 
contracts will be calculated at the rate in effect at the expiration of the current contract.  
For budget purposes, Finance will use 261 workdays/52.2 weeks (Monday-Friday) for 
calculating payroll figures for fiscal year 2026-2027. 
 
3. Calculate mileage reimbursement at 70.0 cents per mile (2025 IRS standard mileage rate).   
 
4. Calculate unleaded gasoline as follows. 
*Rates will be distributed as soon as available.  FY2027 pricing has not been finalized.  
Please use current rates of $2.1918 per gallon. 
 
5. Calculate heating oil and diesel as follows:   
 
Ultra Low Sulfur Diesel Fuel:  
TBD per gallon (summer blend)  
Ultra Low Sulfur Diesel Fuel:  
TBD per gallon (winter blend)  
#2 Heating Oil  
 
 
TBD per gallon  
 
*Rates will be distributed as soon as available.  Currently negotiating FY26 pricing. Please 
use current rates of $2.5569/gallon (heating oil) and $2.5089/gallon (diesel). 
 
6. The Finance Office will provide all standard office supplies. (Only those supplies that are 
unique to your department needs and not available through the Finance Office should be 
reflected in your budget request.)  A list of standard office supplies provided by the Finance 
Office can be found on the “T” Drive in the Purchasing Folder for your reference.  Office 
furniture and equipment are not consumables and must be budgeted in department 
budgets. 
 
7. The Finance Office will provide black and white printing unless your requirement is unusual.  
Check with the Purchasing Agent before budgeting for any printing.  All color printing must 
be budgeted within your department’s operating budget at a rate of $.05 per page.     
 
8. Include a brief functional statement of the duties and responsibilities of your agency and 
submit the budget summary worksheet for your department.  This summary should include 
a list of any Connecticut statutes relating to the individual department.  A budget format 
template (MsWord) and budget worksheet template (Excel) can be found on the “G” 
Drive/Budget 2026-2027.  There are tabs along the bottom of the workbook for each 
department.  All budgets and supporting documentation must be submitted on 8 ½ x 11 
paper only.  If that drive is not available to your office, please contact the Finance Office as 
soon as possible.  Only these forms will be accepted.  Please do not submit PDF files or 
forms. 
 

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9. Any amounts proposed to be expended for gifts associated with illness, retirement, special 
personnel events or achievements, etc. must be submitted to the First Selectman with 
justification for inclusion in the Board of Selectmen’s budget.  Traditional employee 
performance awards and citations are permissible through departmental budgets but must 
be described in your budget justification. 
 
10. Any department with employees covered under the GGA Contract or Non-Union 
Management Professionals whose sick time will exceed the maximum accrual allowed by 
the GGA Contract, must budget the value of the estimated overage under Fringe Benefits 
by individual calculated as follows: 
 
Current hourly rate of pay - (employee’s annual salary on their anniversary date 
divided by 2080 hours) times 50% of the numbers of hours over the maximum (175 
days) if hired prior to July 1, 2006.  This amount will be deposited into the employee’s 
HRA. 
 
 
SECTION C - BOARD OF EDUCATION – SPECIFIC INSTRUCTIONS 
 
The following new requested items must be included in the FY2027 budget request.  If not included, 
the budget MAY BE RETURNED, REDUCED, OR SIMPLY NOT APPROVED. 
 
1. A complete copy of the FY2025 EFS report submitted to the State Department of Education 
2. A detailed listing of position and total salary for said position – include actuals for FY2026 and 
projections for FY2027 
Please do not include employee names in listing - only the position.  A template is included in 
the forms provided. 
3. A separate listing of all expected funding/revenue to include source of funding. 
4. A five-year history of magnet school enrollment by school and a FY2027 enrollment 
projection. 
 
 
 
 
SECTION D – ADDITIONAL BUDGET INSTRUCTIONS 
 
It is recognized that much work goes into the preparation of your budgets and your efforts and 
cooperation are acknowledged and appreciated.  Budget request pages should be numbered and all 
graphs should be submitted in color. 
 
Please email your budget documents to Kim Allen, kallen@waterfordct.org no later than the close of 
business on December 19, 2025.  Budgets should be emailed in their original format.  PDF files will 
not be accepted.  Budgets that require commission approval should include a copy of the meeting 
minutes that show the commission’s vote to approve the FY25 budget request. 
 
If you are unable to email your budget, please send two copies of your final budget to the Finance 
Office no later than close of business on December 19, 2025.  Your budget must be single-sided, 

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indexed, paginated and submitted without staples.  You must be in attendance for your budget 
review session in accordance with the attached schedule.    
 
Glenn Patterson, Chairman 
Board of Finance 
 
 
 
Attachments: 
• Schedule of Revenues (general and special fund) 
• Budget Workbook – Department 
• Uniform Budget Forms 
 (These documents are also available on the ‘G’ Drive/Budget 2026-2027) 
 
 




S:Finance:Board of Finance/Meeting Schedule/BOF Meeting Schedule 2026 
 
 
BOARD OF FINANCE 
MEETING SCHEDULE 
CALENDAR YEAR 2026 
 
ALL MEETINGS WILL BE HELD AT 7:00 P.M. UNLESS OTHERWISE NOTED 
January 14, 2026 
 
 
 
Regular Meeting 
February 12, 2026 
 
 
 
Regular Meeting 
March 2, 2026  
 
 
 
Budget Hearing 
March 4, 2026  
 
 
 
Budget Hearing 
March 9, 2026  
 
 
 
Budget Hearing 
March 11, 2026  
 
 
 
Regular Monthly Meeting  
(Followed by Budget Hearing) 
 
March 11, 2026  
 
 
 
Budget Hearing 
March 16, 2026  
 
 
 
Budget Hearing 
March 18, 2026  
 
 
 
Budget Hearing 
March 23, 2026 
Budget Hearing 
March 25, 2026 
Public Hearing on the budget 
followed by Special Meeting for 
Final Budgetary Action 
April 8, 2026  
 
 
Regular Meeting 
May 4, 2026  
RTM Annual Budget Meeting 
(anticipated to be conducted 
May 4th through 11th) 
May 27, 2026 
Regular Meeting (Fourth 
Wednesday) 
June 10, 2026 
 
 
Regular Meeting 
July 15, 2026 
Regular Meeting (Third 
Wednesday) 
August 12, 2026 
 
 
Regular Meeting 
September 9, 2026 
 
 
Regular Meeting 
October 14, 2026 
 
 
Regular Meeting 
November 11, 2026 
 
 
Regular Meeting 
December 9, 2026 
 
 
Regular Meeting 

S:Finance: Board of Finance-grm/Meeting Schedule/Budget Hearing Schedule 
 
 
BOARD OF FINANCE 
BUDGET HEARING SCHEDULE 
FISCAL YEAR 2026/2027 
 
Monday, March 2, 2026 ................................Library 
 
Police Department 
 
Emergency Management 
 
Fire Services 
 
Board of Finance 
 
Contingency 
Wednesday, March 4, 2026 ...........................Ethics Commission 
 
Conservation of Health  
 
Public Health & Nursing 
 
Miscellaneous Social Grants 
 
Youth Services 
 
Senior Citizens 
 
Recreation and Parks 
 
Monday, March 9, 2026 ................................Economic Development 
 
Conservation Commission 
 
Planning and Zoning 
 
Zoning Board of Appeals 
 
Building Department 
 
Flood and Erosion Control 
 
Review Projected Revenue 
 
Finance Department 
 
Wednesday, March 11, 2026………………..Regular Meeting  
Wednesday, March 11, 2026………………..Human Resources 
Retirement 
Insurance 
Legal 
 
Information Technology 
 
Monday, March 16, 2026 ..............................Registrar of Voters 
 
Assessor 
 
Board of Assessment Appeals 
 
Tax Collector 
 
 
Town Clerk 
 
Representative Town Meeting 
 
Board of Selectmen 
 
Wednesday, March 18, 2026 .........................Building Maintenance 
 
Public Works 
 
Capital Improvements 
 
Debt Service 
 
Transfers to Capital and Non-Recurring 
Monday, March 23, 2026...............................Board of Education 
 
Wednesday, March 25, 2026 .........................Board of Finance Public Hearing on Budget Followed by                       
Special Meeting for Final Budgetary Action  
Monday, May 4, 2026 ....................................RTM Annual Budget Meeting                                                    
(anticipated to be conducted May 4th through May 8th) 
All Board of Finance Meetings will be held at the Waterford Town Hall at 7:00 p.m. and end at 10:30 p.m. 
unless otherwise noted. All budgets are due in the Finance Office on December __, 2025 WITH NO 
EXCEPTIONS. 

Contributed Gifts Fund
June 30, 2025
R&P 
R&P 
R&P
R&P
FINANCE
POLICE
POLICE
POLICE
POLICE
POLICE
R&P
 MEMORIAL
FRANCES X.
CIVIC
DEIDRICK
HELMET
R&P
TREES &
 SWEENEY
R&P
R&P
TRIANGLE
R&P
FIELD PRESS 
R&P
R&P
DEPT.
DEPT.
DEPT.
DEPT.
PUBLIC 
RODEO
GENERAL 
BENCHES
 MEMORIAL
DOG PARK
PLAYGROUND
MEMORIAL
TOY BOX
BOX
CEMETERY
GOLF CART
AUDITORIUM
AUSTISM
VEHICLE
K-9
GENERAL 
SAFETY
FISCAL YEAR 2025
DONATIONS DONATIONS DONATIONS DONATIONS DONATIONS
DONATIONS
DONATIONS DONATIONS
DONATIONS
DONATIONS DONATIONS
A/V UPGRADE TRAINING  CHALLENGE
 PROGRAM DONATIONS
 DOCK
TOTAL
REVENUES
REC & PARKS MEMORIAL TREES & BENCHES 
DONATIONS
$980.00
REC & PARKS DOG PARK DONATIONS
$227.00
REC & PARKS PLAYGROUND DONATIONS
$11,000.00
POLICE DEPT. GENERAL DONATIONS
$14,737.59
REC & PARKS GO CART DONATIONS
$2,440.00
TOTAL REVENUES
$0.00
$0.00
$980.00
$0.00
$227.00
$11,000.00
$0.00
$0.00
$0.00
$0.00
$2,440.00
$0.00
$0.00
$0.00
$9,090.24
$14,737.59
$0.00
$38,474.83
EXPENDITURES
08/16/24  LETS CORP 
$4,995.00
08/04/24 JP MORGAN CHASE
$180.47
08/04/24 JP MORGAN CHASE
$42.50
08/30/24 MARK KOSMAN DESIGN
$241.00
09/04/24 JP MORGAN CHASE
$282.52
09/13/24 E. FREDRICKS REIMB FOR BUS
$100.00
09/27/24 MEDIA HERE & NOW LLC
$500.00
10/4/2024 JP MORGAN CHASE
$594.72
11/4/2024  JP MORGAN CHASE
$1,359.52
11/08/24 WHALING CITY GR BADGE SIGNAGE
$877.79
12/4/2024  JP MORGAN CHASE
$425.53
01/4/2025  JP MORGAN CHASE
$101.98
1/3/2025 LIONS DISTRICT
$110.00
1/6/2025 LIONS DISTRICT
$55.00
1/17/2025 PETTY CASH 
$50.00
01/31/25 CAPITOL UNIFORMS 
$207.00
01/31/25 WHALING CITY GRAPHIC
$86.25
01/31/25 P EPPS REIMBURSEMENT 
$150.93
02/28/25 KUSTOM SIGNALS
$1,908.50
02/4/2025  JP MORGAN CHASE
$1,255.49
02/25/2025  US NATIONAL BANK
$10.98
03/4/2025  JP MORGAN CHASE
$55.00
03/25/2025 U.S. BANK
$39.55
03/28/25 LJ BADGE & EMBLEM
$459.00
04/11/25 N. MALBURN REIMB
$35.88
04/25/2025 U.S. BANK
$450.79
04/11/25  M&T SPORTS CONSTRUCTION LLC
$5,400.00
05/09/25 K9 STORM INC.
$3,653.00
05/26/2025 U.S. BANK
$61.65
06/06/25 WHALING CITY GRAPHIC
$35.00
06/06/25 MEDIA HERE & NOW LLC
$500.00
06/20/25 ADP IMPORT
$22.32
06/26/2025 U.S. BANK
$111.55
06/11/25 EXPENSE MOVED TO GRANT
($594.72)
TOTAL EXPENDITURES
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$5,400.00
$0.00
$0.00
$0.00
$0.00
$0.00
$4,087.43
$14,276.77
$0.00
$23,764.20
NET CURRENT YEAR ACTIVITY
$0.00
$0.00
$980.00
$0.00
$227.00
$11,000.00
$0.00
$0.00
($5,400.00)
$0.00
$2,440.00
$0.00
$0.00
$0.00
$5,002.81
$460.82
$0.00
$14,710.63
PRIOR YEAR BALANCE
$594.72
$129.60
($1,053.61)
$65.00
$760.97
$60,486.32
$1,140.00
$220.00
$8,310.00
$100.00
$0.00
$151.00
$1,700.00
$780.11
$4,424.54
$13,239.38
$7.04
$91,055.07
CURRENT YEAR BALANCE
$594.72
$129.60
($73.61)
$65.00
$987.97
$71,486.32
$1,140.00
$220.00
$2,910.00
$100.00
$2,440.00
$151.00
$1,700.00
$780.11
$9,427.35
$13,700.20
$7.04
$105,765.70
Page 1 of 1

Contributed Gifts Fund
August 31, 2025
R&P 
R&P 
R&P
R&P
FINANCE
POLICE
POLICE
POLICE
POLICE
POLICE
R&P
 MEMORIAL
FRANCES X.
CIVIC
DEIDRICK
HELMET
R&P
TREES &
 SWEENEY
R&P
R&P
TRIANGLE
R&P
FIELD PRESS 
R&P
R&P
DEPT.
DEPT.
DEPT.
DEPT.
PUBLIC 
RODEO
GENERAL 
BENCHES
 MEMORIAL
DOG PARK
PLAYGROUND
MEMORIAL
TOY BOX
BOX
CEMETERY
GOLF CART
AUDITORIUM
AUSTISM
VEHICLE
K-9
GENERAL 
SAFETY
FISCAL YEAR 2026
DONATIONS
DONATIONS
DONATIONS
DONATIONS
DONATIONS
DONATIONS
DONATIONS
DONATIONS
DONATIONS
DONATIONS
DONATIONS
A/V UPGRADE
TRAINING  CHALLENGE
 PROGRAM
DONATIONS
 DOCK
TOTAL
REVENUES
REC & PARKS MEMORIAL TREES & BENCHES 
DONATIONS
$785.00
POLICE DEPT. GENERAL DONATIONS
$250.00
TOTAL REVENUES
$0.00
$0.00
$785.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$250.00
$0.00
$1,035.00
EXPENDITURES
07/26/2025 U.S. BANK
$151.00
07/26/2025 U.S. BANK
$37.99
07/26/2025 U.S. BANK
$296.90
08/25/2025 U.S. BANK
$15.98
08/29/25 ADP IMPORT
$100.00
08/15/25 MARK KOSMAN DESIGN
$140.00
TOTAL EXPENDITURES
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$151.00
$0.00
$0.00
$177.99
$412.88
$0.00
$741.87
NET CURRENT YEAR ACTIVITY
$0.00
$0.00
$785.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
($151.00)
$0.00
$0.00
($177.99)
($162.88)
$0.00
$293.13
PRIOR YEAR BALANCE
$594.72
$129.60
($73.61)
$65.00
$987.97
$71,486.32
$1,140.00
$220.00
$2,910.00
$100.00
$2,440.00
$151.00
$1,700.00
$780.11
$9,427.35
$13,700.20
$7.04
$105,765.70
CURRENT YEAR BALANCE
$594.72
$129.60
$711.39
$65.00
$987.97
$71,486.32
$1,140.00
$220.00
$2,910.00
$100.00
$2,440.00
$0.00
$1,700.00
$780.11
$9,249.36
$13,537.32
$7.04
$106,058.83
Page 1 of 1

GENERAL FUND
STATEMENT OF EXPENDITURES COMPARED TO BUDGET
FOR FISCAL YEAR 2024-2025, THROUGH JUNE 30, 2025
WITH COMPARATIVE ACTUAL AMOUNTS
FOR FISCAL YEAR 2023-2024, THROUGH  JUNE 30, 2024
FISCAL YEAR 2025
FISCAL YEAR 2025
VARIANCE
FISCAL YEAR
FISCAL YEAR 2025
FISCAL YEAR 2025
PERCENT
FAVORABLE
2023-2024
APPROPRIATED
ACTUAL
EXPENDED
(UNFAVORABLE)
ACTUAL
GENERAL GOVERNMENT
Board of Selectmen
$206,405
$195,254
94.60%
11,151
$194,643
Registrar of Voters
$125,072
$124,596
99.62%
476
$99,194
Board of Finance
$86,113
$85,342
99.11%
771
$82,450
Assessor
$313,885
$311,197
99.14%
2,688
$297,701
Board of Assessment Appeals
$1,742
$1,271
72.97%
471
$1,168
Tax Collector
$232,531
$216,940
93.29%
15,591
$237,040
Finance Department
$767,856
$761,497
99.17%
6,359
$757,757
Legal Department
$295,000
$286,169
97.01%
8,831
$432,852
Town Clerk
$265,223
$260,585
98.25%
4,638
$252,371
Planning and Zoning
$706,473
$660,450
93.49%
46,023
$657,287
Building Maintenance
$1,180,357
$1,152,391
97.63%
27,966
$1,172,723
Insurance
$4,962,182
$4,849,536
97.73%
112,646
$4,755,071
Economic Development Commission
$25,267
$9,191
36.37%
16,076
$26,321
Conservation Commission
$18,250
$5,031
27.57%
13,219
$9,471
Zoning Board of Appeals
$4,310
2,108
48.90%
2,202
1,610
Retirement Commission
$7,498,844
$7,461,685
99.50%
37,159
$6,378,194
R.T.M.
$18,903
$17,085
90.38%
1,818
$16,247
Building Department
$326,532
$264,700
81.06%
61,832
$277,874
Youth Service Bureau
$294,579
$289,113
98.14%
5,466
$257,202
Social Service Grants/Miscellaneous
$98,960
$98,090
99.12%
870
$87,181
Contingency Fund
$1,294
0
0.00%
1,294
0
Emergency Management
$1,196,762
$1,086,655
90.80%
110,107
$1,002,329
Fire Services
$3,780,649
$3,618,796
95.72%
161,853
$3,497,410
Police Department
$7,079,251
$6,954,299
98.23%
124,952
$6,571,998
Public Works Department
$5,018,479
$4,705,872
93.77%
312,607
$4,532,710
Conservation of Health
$148,407
148,407
100.00%
0
148,407
Public Health Nursing
$26,297
25,862
98.35%
435
15,653
Senior Citizens Commission
$539,635
524,333
97.16%
15,302
488,562
Waterford Public Library
$1,021,022
$1,012,967
99.21%
8,055
$1,063,892
Recreation and Parks
$1,511,092
$1,482,607
98.11%
28,485
$1,416,579
Flood and Erosion Control Bd.
$1,109
327
29.51%
782
575
Ethics Commission
$900
540
60.02%
360
448
Page 1 of 2

GENERAL FUND
STATEMENT OF EXPENDITURES COMPARED TO BUDGET
FOR FISCAL YEAR 2024-2025, THROUGH JUNE 30, 2025
WITH COMPARATIVE ACTUAL AMOUNTS
FOR FISCAL YEAR 2023-2024, THROUGH  JUNE 30, 2024
FISCAL YEAR 2025
FISCAL YEAR 2025
VARIANCE
FISCAL YEAR
FISCAL YEAR 2025
FISCAL YEAR 2025
PERCENT
FAVORABLE
2023-2024
APPROPRIATED
ACTUAL
EXPENDED
(UNFAVORABLE)
ACTUAL
Human Resources
$265,704
$224,945
84.66%
40,759
$267,494
Information Technology
$1,231,423
$1,203,901
97.76%
27,522
$1,146,256
Transfer to Waterford Special Activity Fund
$4,750
$4,750
100.00%
0
$4,750
Transfer to Waterford Shellfish Fund
$1,290
$1,290
100.00%
0
$4,134
Transfer to Capital Improvement Fund
$2,634,168
$2,634,168
100.00%
0
$2,787,620
Transfer to Capital & Non-Recurring Fund
$4,296,312
$4,296,312
100.00%
0
$3,405,140
Transfer to Dog Fund
$100,000
$100,000
100.00%
0
$100,000
Debt Service
$8,109,746
$8,109,746
100.00%
1
$8,148,250
Total General Government
$54,396,774
$53,188,008
97.78%
$1,208,766
$50,596,564
Board of Education
$57,611,181
$57,611,181
100.00%
(0)
$54,418,893
Total General Fund
$112,007,955
$110,799,189
98.92%
$1,208,766
$105,015,457
Page 2 of 2

TOWN OF WATERFORD
STATEMENT OF REVENUES COMPARED TO ANTICIPATED
FOR FISCAL YEAR 2024-2025, THROUGH JUNE 30, 2025
WITH COMPARATIVE ACTUAL AMOUNTS
FOR FISCAL YEAR 2023-2024, THROUGH  JUNE 30, 2024
 
FAVORABLE
FISCAL
(UNFAVORABLE)
FISCAL
FISCAL
YEAR
FISCAL
FISCAL
YEAR
YEAR
2024-2025
YEAR
YEAR
2024-2025
2024-2025
PERCENT
2024-2025
2023-2024
BUDGET
ACTUAL
RECEIVED
VARIANCE
ACTUAL
STATE OF CONNECTICUT
EDUCATION
EQUALIZED COST SHARING
$326,444
$357,197
109.42%
30,753
$322,130
HEALTH & WELFARE
$6,359
$6,350
99.86%
(9)
$6,810
SUB TOTAL
332,803
363,547
109.24%
30,744
328,940
GENERAL GOVERNMENT
PILOT-DISABLED
1,200
1,540.76
128.40%
341
$1,486
TIERED PILOT 
347,575
349,298.42
100.50%
1,723
$347,575
TAX RELIEF-VETERANS
5,000
4,032.73
80.65%
(967)
$3,671
COURT FINES
0
45,450.00
#DIV/0!
45,450
$19,272
CIVIL PREPAREDNESS
23,000
63,764.00
277.23%
40,764
$38,988
TELECOMMUNICATIONS PROPERTY TAX
58,071
70,713.89
121.77%
12,643
$89,710
TOWN AID ROADS-IMPROVED
321,360
321,359.72
100.00%
(0)
$321,360
LOCAL CAPITAL IMPROVEMENT (LOCIP)
177,479
0.00
0.00%
(177,479)
$0
SDE STATE GRANT
14,000
0.00
0.00%
(14,000)
$0
ENHANCEMENT 911
22,500
22,594.95
100.42%
95
$22,583
MUNICIPAL REVENUE SHARE GRANT
315,978
0.00
0.00%
(315,978)
$493,810
GRANTS FOR MUNICIPAL PROJECTS
34,255
34,255.00
100.00%
0
$34,255
TOTAL GENERAL GOVERNMENT
1,320,418
913,009.47
69.15%
(407,409)
1,372,710
TOTAL STATE OF CONNECTICUT
1,653,221
1,276,556.47
77.22%
(376,665)
1,701,650
OTHER SOURCES
EDUCATION
TUITION
0
52,420
#DIV/0!
52,420
86,287
RENT & MISCELLANEOUS
1,500
5,120
341.30%
3,620
4,980
SUB TOTAL
1,500
57,540
3835.97%
56,040
91,267
GENERAL GOVERNMENT
INTEREST & LIENS
381,744
355,432
93.11%
(26,312)
292,668
INTEREST ON INVESTMENTS
2,000,000
2,401,991
120.10%
401,991
3,091,635
RECREATION & PARKS
202,001
158,096
78.26%
(43,905)
281,878
FIRE SERVICES INSPECTIONS & PLAN FEES
7,320
17,010
232.38%
9,690
9,500
BUILDING INSPECTOR
530,591
891,932
168.10%
361,341
580,773
LICENSE, FEE, PERMIT, FINE
18,320
19,353
105.64%
1,033
17,670
LIBRARY
0
1,441
#DIV/0!
1,441
1,525

TOWN OF WATERFORD
STATEMENT OF REVENUES COMPARED TO ANTICIPATED
FOR FISCAL YEAR 2024-2025, THROUGH JUNE 30, 2025
WITH COMPARATIVE ACTUAL AMOUNTS
FOR FISCAL YEAR 2023-2024, THROUGH  JUNE 30, 2024
 
FAVORABLE
FISCAL
(UNFAVORABLE)
FISCAL
FISCAL
YEAR
FISCAL
FISCAL
YEAR
YEAR
2024-2025
YEAR
YEAR
2024-2025
2024-2025
PERCENT
2024-2025
2023-2024
BUDGET
ACTUAL
RECEIVED
VARIANCE
ACTUAL
SALE OF EQUIPMENT
1,000
1,031
103.10%
31
12,635
SCRRRA REBATE
0
2,578
#DIV/0!
2,578
1,532
NL RADIO COMM. NETWORK USE FEE
0
75,487
#DIV/0!
75,487
85,148
BULKY WASTE FEES
112,000
112,302
100.27%
302
118,795
MISCELLANEOUS
50,000
75,533
151.07%
25,533
162,276
CONVEYANCE TAX
200,000
332,241
166.12%
132,241
308,828
EMS-REG COMM CTR FEES
6,000
6,000
100.00%
0
6,000
PLANNING& ZONING, ZBA, CONSRV COMM
55,980
49,086
87.69%
(6,894)
52,565
TOWN CLERK FEES
175,000
146,805
83.89%
(28,195)
145,720
LIENS -COLLECTED BY UTILITY COMMISSION
0
2,860
#DIV/0!
2,860
8,220
TIPPING FEES
275,000
178,840
65.03%
(96,160)
175,595
RECYCLING
50,000
57,281
114.56%
7,281
40,779
TRANSFERS FROM OTHER FUNDS
0.00
137,521
#DIV/0!
137,521
158,176
TRANSFERS IN-PY ENCUMBRANCES
0
4,789
#DIV/0!
4,789
36,629
EUGENE O'NEILL GATE/LEASE REVENUE
10,000
22,942
229.42%
12,942
22,474
AMBULANCE OPERATING SUBSIDY
6,000
0
0.00%
(6,000)
0
YSB BOE CLERICAL STIPEND
5,000
0
0.00%
(5,000)
0
RENTAL OF BUILDINGS
50,000
60,910
121.82%
10,910
83,711
SENIOR SERVICES
10,198
25,406
249.12%
15,208
21,068
VERSA KART/BLUE BOXES
8,000
9,690
121.13%
1,690
7,830
PUBLIC WORKS BOE CUSTODIAL SUBSIDY
75,927
75,927
100.00%
0
73,218
SUB TOTAL
4,230,081
5,222,483
123.46%
992,402
5,796,848
TOTAL OTHER SOURCES
4,231,581
5,280,023
124.78%
1,048,442
5,888,115
PROPERTY TAXATION
CURRENT PROPERTY TAX
99,867,307
99,054,066
99.19%
(813,241)
95,596,370
PRIOR YEAR TAXES
486,849
(710,580)
-145.95%
(1,197,429)
411,350
TOTAL PROPERTY TAXATION
100,354,156
98,343,486
98.00%
(2,010,670)
96,007,720
FUND BALANCE APPLIED
1,000,000
0
0.00%
(1,000,000)
0
TOTAL REVENUES
107,238,958
104,900,065
97.82%
(2,338,893)
103,597,485

TOWN OF WATERFORD
CAPITAL PROJECTS FUNDS
JUNE 30, 2025
 
REMAINING
BALANCE
FUND 
DESCRIPTION
APPROPRIATION
EXPENDED
BALANCE
PCT EXP
RETURNED
424 DISTRICT MAGNET SCHOOL/EARLY CHLDHD LRN CT
21,248,892.00
21,248,807.19
84.81
100.00%
432 WATERFORD HIGH SCHOOL BUILDING PROJECT
68,362,787.00
67,786,416.66
576,370.34
99.16%
TOTALS
89,611,679.00
89,035,223.85
576,455.15
99.36%
0.00
PRIOR YEAR EXPENDITURES
89,035,223.85
CURRENT YEAR EXPENDITURES
0.00
 

TOWN OF WATERFORD
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE
FLEET MANAGEMENT FUND
AS OF JUNE 30, 2025
  
Revenues:
   Investment Income
176,770
   Vehicle Rentals
71,988
   Sale of Vehicles
69,408
   Sale of Equipment
8,430
Total Revenues
326,595
Expenditures:
   Equipment Replacement
174,585
   Vehicle Replacement
2,004,608
Total Expenditures
2,179,193
Excess (Deficiency) of Revenues Over Expenditures
(1,852,598)
Other Financing Sources (Uses):
   Transfers from other funds
1,000,000
Total Other Financing Sources (Uses)
1,000,000
Net Change in Fund Balances
(852,598)
Fund Balances - Beginning
3,501,938
Fund Balances - Ending
2,649,340

GENERAL FUND
STATEMENT OF EXPENDITURES COMPARED TO BUDGET
FOR FISCAL YEAR 2025-2025, THROUGH AUGUST 31, 2025
WITH COMPARATIVE ACTUAL AMOUNTS
FOR FISCAL YEAR 2024-2025, THROUGH  AUGUST 31, 2024
FISCAL YEAR 2026
FISCAL YEAR 2026
VARIANCE
FISCAL YEAR
FISCAL YEAR 2026
FISCAL YEAR 2026
PERCENT
FAVORABLE
2024-2025
APPROPRIATED
ACTUAL
EXPENDED
(UNFAVORABLE)
ACTUAL
GENERAL GOVERNMENT
Board of Selectmen
206,402
$31,654
15.34%
174,748
$30,347
Registrar of Voters
121,255
$13,193
10.88%
108,062
$22,581
Board of Finance
83,608
$80,077
95.78%
3,531
$77,124
Assessor
319,641
$68,581
21.46%
251,060
$45,120
Board of Assessment Appeals
1,829
$142
7.79%
1,687
$169
Tax Collector
227,817
$64,163
28.16%
163,654
$60,963
Finance Department
784,326
$238,027
30.35%
546,299
$220,537
Legal Department
295,000
($2,701)
-0.92%
297,701
($1,311)
Town Clerk
272,301
$60,708
22.29%
211,593
$61,965
Planning and Zoning
695,016
$93,582
13.46%
601,434
$103,300
Building Maintenance
1,020,000
$354,998
34.80%
665,002
$429,323
Insurance
5,604,561
$2,465,561
43.99%
3,139,000
$1,784,223
Economic Development Commission
25,352
$9,427
37.18%
15,925
$9,583
Conservation Commission
18,250
$9,832
53.88%
8,418
$1,306
Zoning Board of Appeals
4,310
2,960
68.68%
1,350
2,980
Retirement Commission
7,200,257
$2,283,433
31.71%
4,916,824
$2,984,824
R.T.M.
17,403
$13,596
78.12%
3,807
$13,137
Building Department
321,515
$45,163
14.05%
276,352
$48,733
Youth Service Bureau
307,435
$45,975
14.95%
261,460
$51,564
Social Service Grants/Miscellaneous
101,481
$100,830
99.36%
651
$89,759
Contingency Fund
257,887
0
0.00%
257,887
0
Emergency Management
1,230,035
$189,196
15.38%
1,040,839
$176,592
Fire Services
3,958,130
$1,303,150
32.92%
2,654,980
$1,346,518
Police Department
7,122,210
$1,032,752
14.50%
6,089,458
$1,179,370
Public Works Department
5,154,902
$1,877,610
36.42%
3,277,292
$1,992,028
Conservation of Health
155,063
155,063
100.00%
0
148,407
Public Health Nursing
21,600
0
0.00%
21,600
52,594
Senior Citizens Commission
523,586
86,819
16.58%
436,767
77,593
Waterford Public Library
1,012,780
$152,148
15.02%
860,632
$163,216
Recreation and Parks
1,535,328
$413,947
26.96%
1,121,381
$447,587
Flood and Erosion Control Bd.
1,109
67
6.05%
1,042
0
Ethics Commission
900
34
3.73%
866
205
Page 1 of 2

GENERAL FUND
STATEMENT OF EXPENDITURES COMPARED TO BUDGET
FOR FISCAL YEAR 2025-2025, THROUGH AUGUST 31, 2025
WITH COMPARATIVE ACTUAL AMOUNTS
FOR FISCAL YEAR 2024-2025, THROUGH  AUGUST 31, 2024
FISCAL YEAR 2026
FISCAL YEAR 2026
VARIANCE
FISCAL YEAR
FISCAL YEAR 2026
FISCAL YEAR 2026
PERCENT
FAVORABLE
2024-2025
APPROPRIATED
ACTUAL
EXPENDED
(UNFAVORABLE)
ACTUAL
Human Resources
244,204
$88,834
36.38%
155,370
$112,553
Information Technology
1,214,796
$697,352
57.40%
517,444
$339,608
Transfer to Waterford Special Activity Fund
0
$0
0.00%
0
$4,750
Transfer to Waterford Shellfish Fund
2,029
$2,029
100.00%
0
$1,290
Transfer to Capital Improvement Fund
1,101,089
$1,101,089
100.00%
0
$1,430,335
Transfer to Capital & Non-Recurring Fund
844,764
$844,764
100.00%
0
$938,399
Transfer to Dog Fund
100,000
$100,000
100.00%
0
$100,000
Debt Service
7,964,500
$6,500,214
81.61%
1,464,287
$6,529,307
Total General Government
$50,072,671
$20,524,267
40.99%
$29,548,404
$21,076,579
Board of Education
59,828,308
$5,499,989
9.19%
54,328,319
$6,444,210
Total General Fund
$109,900,979
$26,024,256
23.68%
$83,876,723
$27,520,789
Page 2 of 2

TOWN OF WATERFORD
STATEMENT OF REVENUES COMPARED TO ANTICIPATED
FOR FISCAL YEAR 2025-2025, THROUGH AUGUST 31, 2025
WITH COMPARATIVE ACTUAL AMOUNTS
FOR FISCAL YEAR 2024-2025, THROUGH  AUGUST 31, 2024
 
FAVORABLE
FISCAL
(UNFAVORABLE)
FISCAL
FISCAL
YEAR
FISCAL
FISCAL
YEAR
YEAR
2025-2026
YEAR
YEAR
2025-2026
2025-2026
PERCENT 2025-2026
2024-2025
BUDGET
ACTUAL
RECEIVED VARIANCE
ACTUAL
STATE OF CONNECTICUT
EDUCATION
EQUALIZED COST SHARING
$326,617
$0
0.00%
(326,617)
$0
HEALTH & WELFARE
$6,359
$0
0.00%
(6,359)
$0
SUB TOTAL
332,976
0
0.00%
(332,976)
0
GENERAL GOVERNMENT
PILOT-DISABLED
1,200
0
0.00%
(1,200)
$0
TIERED PILOT 
367,422
0
0.00%
(367,422)
$0
TAX RELIEF-VETERANS
5,000
0
0.00%
(5,000)
$0
CIVIL PREPAREDNESS
35,444
0
0.00%
(35,444)
$0
TELECOMMUNICATIONS PROPERTY TAX
58,071
0
0.00%
(58,071)
$0
TOWN AID ROADS-IMPROVED
321,360
215,440
67.04%
(105,920)
$160,680
LOCAL CAPITAL IMPROVEMENT (LOCIP)
177,241
0
0.00%
(177,241)
$0
SDE STATE GRANT
14,103
0
0.00%
(14,103)
$0
ENHANCEMENT 911
23,000
5,642
24.53%
(17,358)
$5,649
MUNICIPAL REVENUE SHARE GRANT
315,978
0
0.00%
(315,978)
$0
GRANTS FOR MUNICIPAL PROJECTS
34,255
0
0.00%
(34,255)
$0
TOTAL GENERAL GOVERNMENT
1,353,074
221,082
16.34%
(1,131,992)
166,329
TOTAL STATE OF CONNECTICUT
1,686,050
221,082
13.11%
(1,464,968)
166,329
OTHER SOURCES
EDUCATION
TUITION
57,585
0
0.00%
(57,585)
0
RENT & MISCELLANEOUS
1,500
0
0.00%
(1,500)
0
SUB TOTAL
59,085
0
0.00%
(59,085)
0
GENERAL GOVERNMENT
INTEREST & LIENS
413,060
59,648
14.44%
(353,412)
60,509
INTEREST ON INVESTMENTS
2,000,000
402,540
20.13%
(1,597,460)
498,884
RECREATION & PARKS
150,000
148,681
99.12%
(1,319)
89,963
FIRE SERVICES INSPECTIONS & PLAN FEES
8,875
500
5.63%
(8,375)
7,670
BUILDING INSPECTOR
589,155
67,831
11.51%
(521,324)
178,066
LICENSE, FEE, PERMIT, FINE
73,566
4,273
5.81%
(69,293)
3,129
LIBRARY
1,598
278
17.37%
(1,321)
281

TOWN OF WATERFORD
STATEMENT OF REVENUES COMPARED TO ANTICIPATED
FOR FISCAL YEAR 2025-2025, THROUGH AUGUST 31, 2025
WITH COMPARATIVE ACTUAL AMOUNTS
FOR FISCAL YEAR 2024-2025, THROUGH  AUGUST 31, 2024
 
FAVORABLE
FISCAL
(UNFAVORABLE)
FISCAL
FISCAL
YEAR
FISCAL
FISCAL
YEAR
YEAR
2025-2026
YEAR
YEAR
2025-2026
2025-2026
PERCENT 2025-2026
2024-2025
BUDGET
ACTUAL
RECEIVED VARIANCE
ACTUAL
SALE OF EQUIPMENT
1,000
0
0.00%
(1,000)
0
SCRRRA REBATE
1,500
0
0.00%
(1,500)
0
NL RADIO COMM. NETWORK USE FEE
85,000
0
0.00%
(85,000)
0
BULKY WASTE FEES
112,000
23,171
20.69%
(88,829)
25,745
MISCELLANEOUS
26,572
15,346
57.75%
(11,226)
10,864
CONVEYANCE TAX
225,000
93,080
41.37%
(131,920)
74,146
EMS-REG COMM CTR FEES
6,000
0
0.00%
(6,000)
0
PLANNING& ZONING, ZBA, CONSRV COMM
55,121
4,779
8.67%
(50,342)
25,812
TOWN CLERK FEES
175,000
31,613
18.06%
(143,388)
27,651
TIPPING FEES
275,000
0
0.00%
(275,000)
0
RECYCLING
50,000
10,597
21.19%
(39,403)
0
EUGENE O'NEILL GATE/LEASE REVENUE
22,000
0
0.00%
(22,000)
0
YSB BOE CLERICAL STIPEND
5,000
0
0.00%
(5,000)
0
RENTAL OF BUILDINGS
50,000
15,150
30.30%
(34,850)
14,968
SENIOR SERVICES
15,552
489
3.14%
(15,063)
4,659
VERSA KART/BLUE BOXES
8,000
1,500
18.75%
(6,500)
900
BOE SCHOOL RESOURCE OFFICERS
90,000
0
0.00%
(90,000)
0
PUBLIC WORKS BOE CUSTODIAL SUBSIDY
78,357
0
0.00%
(78,357)
75,927
SUB TOTAL
4,517,356
879,476
19.47%
(3,637,880)
1,099,174
TOTAL OTHER SOURCES
4,576,441
879,476
19.22%
(3,696,965)
1,099,174
PROPERTY TAXATION
CURRENT PROPERTY TAX
103,023,460
76,878,084
74.62%
(26,145,376)
72,922,334
PRIOR YEAR TAXES
543,528
91,206
16.78%
(452,322)
12,856
TOTAL PROPERTY TAXATION
103,566,988
76,969,290
74.32%
(26,597,698)
72,935,190
TOTAL REVENUES
109,829,479
78,069,848
71.08%
(31,759,631)
74,200,693

TOWN OF WATERFORD
CAPITAL PROJECTS FUNDS
AUGUST 31, 2025
 
REMAINING
BALANCE
FUND 
DESCRIPTION
APPROPRIATION
EXPENDED
BALANCE
PCT EXP
RETURNED
424 DISTRICT MAGNET SCHOOL/EARLY CHLDHD LRN CT
21,248,892.00
21,248,807.19
84.81
100.00%
432 WATERFORD HIGH SCHOOL BUILDING PROJECT
68,362,787.00
67,786,416.66
576,370.34
99.16%
TOTALS
89,611,679.00
89,035,223.85
576,455.15
99.36%
0.00
PRIOR YEAR EXPENDITURES
89,035,223.85
CURRENT YEAR EXPENDITURES
0.00
 

TOWN OF WATERFORD
STATEMENT OF REVENUES, EXPENDITURES,
AND CHANGES IN FUND BALANCE
FLEET MANAGEMENT FUND
AS OF AUGUST 31, 2025
  
Revenues:
   Investment Income
23,559
   Vehicle Rentals
4,900
Total Revenues
28,459
Expenditures:
   Equipment Replacement
184,018
   Vehicle Replacement
1,140,529
Total Expenditures
1,324,547
Excess (Deficiency) of Revenues Over Expenditures
(1,296,088)
Other Financing Sources (Uses):
   Transfers from other funds
1,000,000
Total Other Financing Sources (Uses)
1,000,000
Net Change in Fund Balances
(296,088)
Fund Balances - Beginning
2,649,340
Fund Balances - Ending
2,353,252

TOWN OF WATERFORD
CAPITAL IMPROVEMENT FUND
JUNE 30, 2025
EXPENDED/
PERCENT
TRANSFERS
ACCOUNT 
DEPT/YEAR
DESCRIPTION
APPROPRIATED
ENCUMBERED
BALANCE
EXPENDED
OUT
30125-55738
BOS FY25
FLEET MANAGEMENT PLAN
1,000,000.00
1,000,000.00
0.00
100.0%
1,000,000.00 TO FLEET MANAGEMENT FUND
31117-55803
BLDG MAINT FY17
PARKING LOT -YOUTH SERVICES
300,000.00
51,700.00
248,300.00
17.2%
31118-55803
BLDG MAINT FY18
PARKING LOT -YSB/POLICE 
195,320.00
57,000.00
138,320.00
29.2%
31120-55851
BLDG MAINT FY20
ADA IMPROVEMENTS YSB/PD
87,000.00
25,764.40
61,235.60
29.6%
31120-55852
BLDG MAINT FY20
TOWN HALL BATHROOMS
87,500.00
87,500.00
0.00
100.0%
31121-55851
BLDG MAINT FY21
ADA IMPROVEMENTS YSB/PD
80,700.00
4,639.00
76,061.00
5.7%
31122-55819
BLDG MAINT FY22
UST REPLACEMENT               
250,000.00
242,721.32
7,278.68
97.1%
31122-55893
BLDG MAINT FY22
EUGENE O'NEILL  ROOF REPLACE  
60,767.64
60,767.64
0.00
100.0%
2,700.00
31123-55904
BLDG MAINT FY23
UST REPLACEMENT EUGENE O'NEILL
260,000.00
107,101.28
152,898.72
41.2%
31123-55905
BLDG MAINT FY23
UST REPLACEMENT LIBRARY&PUBLIC SAFETY
420,000.00
410,860.95
9,139.05
97.8%
31123-57857
BLDG MAINT FY23
CIVIC TRIANGLE UPGRADES       
1,285,818.00
1,285,818.00
0.00
100.0%
23,388.28
31124-55912
BLDG MAINT FY24
TOWN DOCK REPLACEMENT         
40,000.00
669.51
39,330.49
1.7%
31124-55913
BLDG MAINT FY24
JORDAN PARKHOUSE REPAIRS      
31,583.00
11,152.24
20,430.76
35.3%
31124-55915
BLDG MAINT FY24
SEPTIC REPLMT (EUGENE O'NEILL)
43,500.00
35,154.00
8,346.00
80.8%
31125-55904
BLDG MAINT FY25
UST REPLACEMENT EUGENE O'NEILL
153,000.00
89,471.59
63,528.41
58.5%
32224-55908
EMERGENCY MANAGEMENT FY24
APCO INTELLICOM GUIDECARD SYST
40,000.00
20,000.00
20,000.00
50.0%
32224-55909
EMERGENCY MANAGEMENT FY24
EVENTIDE NEXLOGDX RECORDER    
88,701.00
0.00
88,701.00
0.0%
32323-55900
FIRE SERVICES FY23
COHANZIE EMERGENCY GENERATOR
57,000.00
57,000.00
0.00
100.0%
1,000.00
32323-55907
FIRE SERVICES FY23
PAGERS UPGRADE/REPLACEMENT
25,000.00
25,000.00
0.00
100.0%
137.05
32325-55916
FIRE SERVICES FY25
COHANZIE SKYLIGHT REPLACEMENT 
30,000.00
23,600.00
6,400.00
78.7%
32925-55918
POLICE DEPT FY25
CELL BLOCK/KITCHEN UPDATE     
25,575.00
25,575.00
0.00
100.0%
2,325.00
32925-55919
POLICE DEPT FY25
FIREARMS/LASER SITE TRANSITION
53,289.00
53,289.00
0.00
100.0%
931.48
33020-55850
PUBLIC WORKS FY20
CROSS ROAD                    
2,754,000.00
2,754,000.00
0.00
100.0%
33020-59300
PUBLIC WORKS FY20
FUNDING OFFSET-CROSS ROAD                    
(2,754,000.00)
(2,754,000.00)
0.00
100.0%
33022-55882
PUBLIC WORKS FY22
NORMAN/CONCRETE PANELS        
119,512.99
119,512.99
0.00
100.0%
33022-55883
PUBLIC WORKS FY22
WILLIAM ST CONCRETE SIDEWALK 
37,007.44
37,007.44
0.00
100.0%
6,330.91
33022-55884
PUBLIC WORKS FY22
SUMMER STREET/CONCRETE SW     
12,788.35
12,788.35
0.00
100.0%
33022-55885
PUBLIC WORKS FY22
DAVID STREET/CONCRETE SW      
30,191.22
30,191.22
0.00
100.0%
33023-55890
PUBLIC WORKS FY23
ROAD RESURFACING EVERSOURCE AF
315,951.00
(449,026.83)
764,977.83
-142.1%
Page 1 of 2

TOWN OF WATERFORD
CAPITAL IMPROVEMENT FUND
JUNE 30, 2025
EXPENDED/
PERCENT
TRANSFERS
ACCOUNT 
DEPT/YEAR
DESCRIPTION
APPROPRIATED
ENCUMBERED
BALANCE
EXPENDED
OUT
33023-55901
PUBLIC WORKS FY23
CURB REPLACEMENT SANDY HOLLW
319,300.00
319,300.00
0.00
100.0%
90,157.26
33024-55911
PUBLIC WORKS FY24
BLOOMINGDALE/HUNTS BRK CULVERT
15,000.00
15,000.00
0.00
100.0%
33024-55914
PUBLIC WORKS FY24
ROTARY LIFT REPLACEMENTS      
75,000.00
75,000.00
0.00
100.0%
28.00
33025-55920
PUBLIC WORKS FY25
NIANTIC RIVER ROAD SIDEWALK RE
25,000.00
15,000.00
10,000.00
60.0%
33122-55894
UTILITY COMM FY22
CONTROL PANEL RETRO-FIT (GORMA
30,000.00
30,000.00
0.00
100.0%
223.14
33123-55019
UTILITY COMM FY23
CONTRACT #1 SEWER INTERCEPTOR EASEMENT ACCESS
250,000.00
102,800.00
147,200.00
41.1%
33123-55895
UTILITY COMM FY23
ROOF & SIDING REPLACEMENT     
50,000.00
33,280.52
16,719.48
66.6%
33720-55855
REC & PARKS FY20
TOWN COURT REPAIRS
1,447,058.00
1,301,625.00
145,433.00
89.9%
33722-55896
REC & PARKS FY22
EQUIPMENT STORAGE PLAN        
21,000.00
7,944.75
13,055.25
37.8%
33723-55838
REC & PARKS FY23
CHILDREN'S PLAYGROUND
40,000.00
0.00
40,000.00
0.0%
33725-55838
REC & PARKS FY25
STENGER PARK BATHROOM & WALKWAY
10,500.00
7,200.00
3,300.00
68.6%
34723-55021
INFORMATION TECHNOLOGY  FY23
AUDITORIUM MEETING ROOM UPDATES
272,000.00
207,590.04
64,409.96
76.3%
34724-55910
INFORMATION TECHNOLOGY  FY24
NEXGEN TRANSITION             
309,520.00
309,520.00
0.00
100.0%
6,736.10
34725-55917
INFORMATION TECHNOLOGY  FY24
CONTENT FILTER UPGRADE/REPLACE
15,163.00
15,163.00
0.00
100.0%
3,564.23
TOTALS
8,009,745.64
5,864,680.41
2,145,065.23
73.2%
1,137,521.45
PRIOR YEAR EXPENDITURES
2,523,101.04
CURRENT YEAR EXPENDITURES
3,341,579.37
Page 2 of 2

TOWN OF WATERFORD
CAPITAL IMPROVEMENT FUND
AUGUST 31, 2025
EXPENDED/
PERCENT
TRANSFERS
ACCOUNT 
DEPT/YEAR
DESCRIPTION
APPROPRIATED
ENCUMBERED
BALANCE
EXPENDED
OUT
30126-55738
BOS FY26
FLEET MANAGEMENT PLAN
1,000,000.00
1,000,000.00
0.00
100.0%
1,000,000.00
TO FLEET MANAGEMENT FUND
31117-55803
BLDG MAINT FY17
PARKING LOT -YOUTH SERVICES
300,000.00
85,000.00
215,000.00
28.3%
31118-55803
BLDG MAINT FY18
PARKING LOT -YSB/POLICE 
195,320.00
57,000.00
138,320.00
29.2%
31120-55851
BLDG MAINT FY20
ADA IMPROVEMENTS YSB/PD
87,000.00
38,364.40
48,635.60
44.1%
31120-55852
BLDG MAINT FY20
TOWN HALL BATHROOMS
87,500.00
87,500.00
0.00
100.0%
31121-55851
BLDG MAINT FY21
ADA IMPROVEMENTS YSB/PD
80,700.00
4,639.00
76,061.00
5.7%
31122-55819
BLDG MAINT FY22
UST REPLACEMENT               
250,000.00
250,010.00
(10.00)
100.0%
31123-55904
BLDG MAINT FY23
UST REPLACEMENT EUGENE O'NEILL
260,000.00
150,353.41
109,646.59
57.8%
31123-55905
BLDG MAINT FY23
UST REPLACEMENT LIBRARY&PUBLIC SAFETY
420,000.00
419,129.24
870.76
99.8%
31124-55912
BLDG MAINT FY24
TOWN DOCK REPLACEMENT         
40,000.00
25,000.00
15,000.00
62.5%
31124-55913
BLDG MAINT FY24
JORDAN PARKHOUSE REPAIRS      
31,583.00
30,152.24
1,430.76
95.5%
31124-55915
BLDG MAINT FY24
SEPTIC REPLMT (EUGENE O'NEILL)
43,500.00
35,154.00
8,346.00
80.8%
31125-55904
BLDG MAINT FY25
UST REPLACEMENT EUGENE O'NEILL
153,000.00
89,471.59
63,528.41
58.5%
32224-55908
EMERGENCY MANAGEMENT FY24
APCO INTELLICOM GUIDECARD SYST
40,000.00
20,000.00
20,000.00
50.0%
32224-55909
EMERGENCY MANAGEMENT FY24
EVENTIDE NEXLOGDX RECORDER    
88,701.00
0.00
88,701.00
0.0%
32325-55916
FIRE SERVICES FY25
COHANZIE SKYLIGHT REPLACEMENT 
30,000.00
27,100.00
2,900.00
90.3%
32326-55923
FIRE SERVICES FY26
COHANZIE AIR CONDITIONING     
15,000.00
0.00
15,000.00
0.0%
32926-55924
POLICE DEPT FY26
MARINE UNIT UPDATES           
31,089.00
17,179.74
13,909.26
55.3%
33023-55890
PUBLIC WORKS FY23
ROAD RESURFACING EVERSOURCE AF
315,951.00
(449,026.83)
764,977.83
-142.1%
33025-55920
PUBLIC WORKS FY25
NIANTIC RIVER ROAD SIDEWALK RE
25,000.00
15,000.00
10,000.00
60.0%
33026-55925
PUBLIC WORKS FY26
ROAD RISK ASSESSMENT          
55,000.00
0.00
55,000.00
0.0%
33123-55019
UTILITY COMM FY23
CONTRACT #1 SEWER INTERCEPTOR EASEMENT ACCESS
250,000.00
102,800.00
147,200.00
41.1%
33123-55895
UTILITY COMM FY23
ROOF & SIDING REPLACEMENT     
50,000.00
33,280.52
16,719.48
66.6%
33720-55855
REC & PARKS FY20
TOWN COURT REPAIRS
1,447,058.00
1,446,250.00
808.00
99.9%
33722-55896
REC & PARKS FY22
EQUIPMENT STORAGE PLAN        
21,000.00
16,750.00
4,250.00
79.8%
33723-55838
REC & PARKS FY23
CHILDREN'S PLAYGROUND
40,000.00
0.00
40,000.00
0.0%
33725-55838
REC & PARKS FY25
STENGER PARK BATHROOM & WALKWAY
10,500.00
7,200.00
3,300.00
68.6%
34723-55021
INFORMATION TECHNOLOGY  FY23 AUDITORIUM MEETING ROOM UPDATES
272,000.00
207,641.54
64,358.46
76.3%
TOTALS
5,639,902.00
3,715,948.85
1,923,953.15
65.9%
1,000,000.00
PRIOR YEAR EXPENDITURES
2,393,747.77
CURRENT YEAR EXPENDITURES
1,322,201.08
Page 1 of 1

TOWN OF WATERFORD
CAPITAL AND NON-RECURRING EXPENDITURE FUND
FUND BALANCE DESIGNATION AND APPROPRIATION
JULY 1,2024 TO JUNE 30,2025
AS OF JUNE 30,2025
BEGINNING 
FY25 RTM
CLOSED
AVAILABLE 
BALANCE
XFER IN
FISCAL YEAR 2024-2025
ENCUMBERED/ BAL (REVERTS
INTEREST 
OTHER 
TO DATE
 
APPROPRIATIONS
DESIGNATED
UNDESIGNATED
DESIGNATED APPROPRIATED
DESIGNATED UNDESIGNATED
EXPENDED
TO FUND)
INC
REVENUES
APPROPRIATED
DESIGNATED UNDESIGNATED
20501-57018
PURCHASE 8 GOSHEN ROAD
$6,314.00
$0.00
$0.00
$6,314.00
$0.00
$0.00
$6,314.00
20501-57639
REVALUATION
$0.00
$407,700.00
$0.00
$125,000.00
$0.00
$532,700.00
$0.00
20510-57897
28 INDUSTRIAL DRIVE IMPROVEMENTS
$0.00
$0.00
$0.00
$85,000.00
$85,000.00
$0.00
$0.00
20511-57740
COHANZIE SCHOOL REMEDIATION &
$0.00
$0.00
$0.00
$40,000.00
$0.00
$40,000.00
$0.00
20511-57767
NEVINS COTTAGE REPAIRS
$20,715.00
$100,000.00
$0.00
$100,000.00
($100,000.00)
$88,201.11
$32,513.89
$0.00
$0.00
20511-57840
PLAN OF CONSERVATION DEVELOPMENT
$10,914.86
$0.00
$0.00
$811.20
$10,103.66
$0.00
$0.00
20511-57870
MAGO POINT IMPROVEMENTS       
$0.00
$374,500.00
$0.00
$374,500.00
($374,500.00)
$705,548.62
$367,395.96
$36,347.34
$0.00
$0.00
20511-57871
PUBLIC SAFETY BLDG  HVAC      
$0.00
$62,045.00
$0.00
($62,045.00)
$62,045.00
$0.00
$0.00
$62,045.00
20511-57872
ROOF & HVAC REPLACEMENT PUBLIC SAFETY BUILDING
$61,169.20
$0.00
$0.00
$8,400.00
$52,769.20
$0.00
$0.00
20511-57874
RECONDITION ELEVATORS -TOWN HALL/YOUTH SERVICES BLDG
$268,133.85
$0.00
$0.00
$268,124.85
$9.00
$0.00
$0.00
$9.00
20511-57876
SW SCHOOL UNDERGROUND TANK
$81,841.49
$0.00
$0.00
$632.74
$81,208.75
$0.00
$0.00
$81,208.75
20511-57879
TOWN HALL BATHROOM REFURBISHMENT
$214,827.04
$0.00
$0.00
$206,800.15
$8,026.89
$0.00
$0.00
20511-57885
COMMUNITY CENTER BMS PROJECT
$51,050.00
$0.00
$0.00
$51,050.00
$0.00
$0.00
$51,050.00
20511-57889
PUBLIC SAFETY COMPLEX HVAC    
$0.00
$0.00
$0.00
$100,000.00
$0.00
$100,000.00
$0.00
20522-57794
MOBILE & PORTABLE RADIO REPLACEMENT PROGRAM
$290,569.50
$3,683.00
$0.00
$269,059.00
$21,510.50
$3,683.00
$0.00
20522-57887
FARGO WATER TANK ANTENNA
$48,998.00
$0.00
$0.00
$48,997.26
$0.74
($0.00)
$0.00
$0.74
20523-57777
FIRE SERVICES -SCBA UPGRADE PROGRAM
$18.56
$0.00
$0.00
$50,000.00
$0.00
$45,850.00
$4,168.56
$0.00
$0.00
20523-57791
JORDAN-TRAFFIC LIGHT UPGRADE
$0.00
$25,000.00
$0.00
$35,460.00
($25,000.00)
$0.00
$35,460.00
$0.00
$0.00
20523-57792
OSWEGATCHIE-BUILDING RENOVATIONS
$602,241.42
$0.00
$0.00
$286,000.00
$598,443.45
$289,797.97
$0.00
$0.00
20523-57836
FIRE SERVICES CARPET REPLACEMENT
$0.00
$30,000.00
$0.00
$0.00
$