Town of Chapel Hill sees surplus in new fiscal year

Despite the poor economy, the town of Chapel Hill government is doing well financially, Town Manager Roger Stancil said.

The town has a surplus of $1.4 million for the 2009 fiscal year, Stancil said at Monday’s Town Council business meeting.

During his summary of the Comprehensive Annual Financial Report, Stancil said the town reduced expenditures and avoided long-term commitments to help create the surplus.

“It demonstrates amazing management of the town’s fiscal resources,” Mayor Kevin Foy said.

For the fiscal year, which ended June 30, town management assumed the economy would begin making a recovery in spring 2010 and that good town employees would need to be retained, Stancil said.

Shane Fox of Martin Starnes and Associates, the town’s external auditor, answered the council’s questions at the meeting.

“We have zero bad news to give the town this year,” he said.

The full report becomes available on the town’s Web site today.


Parks plans approved

The council also approved two plans to improve the condition Chapel Hill’s parks and trails.

Members approved a plan for capital development and the creation of a new master plan.

Parks and Recreation director Butch Kisiah presented key points from the town’s 2008 Parks and Trails Assessment.

Kisiah said implementing the capital development plan would cost between $6 million and $10 million.

“If we follow through with the capital project we have a good opportunity to keep community parks in the condition they’re in,” Parks and Recreation Commission Chairman Neal Bench said.

Town officials would begin work on both in 2010.



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