Delaware resort town creating 5-year plan for finances
REHOBOTH BEACH, Del. (AP) — A coastal resort town in Delaware is creating a five-year plan for its finances after some budget hiccups.
The Daily Times of Salisbury, Maryland, reports that Rehoboth Beach commissioners believe that’s the best way to help stabilize finances.
Construction of a new, $20 million city hall was over its projected budget by $2.5 million. The city had to dig into its cash reserves and spend $1.3 million to compensate for the heightened cost of the project.
Commissioner Paul Kuhns said the town has a budget surplus. But he said health care and labor costs are rising higher than revenues. He said anticipating those costs in a five-year plan can help lead to stability.
Information from: The Daily Times of Salisbury, Md., http://www.delmarvanow.com/