By Mark Squibb
The Town of Holyrood is in good financial standing, says Deputy Mayor Michele Woodford.
During council’s April meeting, Woodford said staff conducted a departmental budget review, and most departments reported first quarter spending below the 25 percent threshold. The one exception was the department of environment, which had spent 50 percent of its budget by the end of the first quarter. Woodford chalked up the overspending to an early payment of the annual garbage contract.
“That does not represent, of course, a budget overage, but rather, a proactive and efficient financial management practice,” she said.
All told, the Town is averaging 22.98 percent of its annual budget having been spent in the first quarter.
In terms of income, the Town has collected $970,941 in current year taxes and $83,796 in back taxes. That amounts to 23.44 percent of residential taxes, 18.58 percent of water and sewer, 15.43 percent of business tax, and 54.28 percent of fire taxes to be paid in 2026.
The Town was also advised recently that its gas tax funding allocation for 2026 had increased, and that Holyrood will receive an additional $15,376, resulting in a bump in the municipal budget to $5,220,745.
Woodford said gas tax funding is ‘project driven funding’ and will be allocated as fiscal services on the balance sheet.
The Town had initially budgeted $289,460 in gas tax income.
“Overall, we’re in a really good financial position,” concluded Woodford.
