Found the following in Supervisor Lee Jennings part of the Fall/Winter edition of the Nunda Township Newsletter:
It is with great pride and sense of accomplishment that I announce that Nunda Township is now Debt Free!
When our Road Commissioner Mike Lesperance and I were elected a little over 3 years ago the township owed a combined debt of almost 3⁄4 of a million dollars.
The Town Fund/General Assistance (GA) Fund had been borrowing money annually to pay its bills.
Now, the Town and GA funds are financially solvent and building much needed reserves.
The Road District, while certainly more financially stable, owed over $600,000 on a Debt Certificate for the construction of the Township Garage.
The Road District also owed approximately $90,000 on vehicles and equipment.
All of our Nunda Township offices have worked very diligently to become Debt Free.
The Supervisor’s office went through every expense and reduced or cut every place possible including reduction in staff.
We also worked with the Assessor’s office to reduce staff costs.
We switched insurance carriers and reconfigured our policy to reduce costs and increase the employee paid portion.
The Road Garage debt was refinanced, knocking nearly $50,000 right off the top.
By accelerating payments that loan was recently paid off (nearly three years early saving tens of thousands of dollars in interest).
The Road District has:updated its fleet of trucks by purchasing newer gently used ones and making sure they are fully reconditioned rather than buying new, they now have their own asphalt paver/crew so only the larger jobs have to be contracted out, a new in-house brine plant that is used to lower salt costs and built larger storage facilities enabling the purchase of salt at lower rates.
Each office has and will continue to do as much work in-house as possible in order to keep costs down.