St. Johnsbury board reveals $576K town deficit
ST. JOHNSBURY ó The town of St. Johnsbury says an audit shows it ran a $576,000 deficit audit last year.
Town officials had reportedly expected a budget surplus of around $233,500 for 2012. In July, they reserved that money in several municipal funds.
On Monday, selectmen voted to reverse the July reserves to apply the money to the deficit, lowering the amount to about $342,000 still in deficit.
The selectmen said residents can expect more details about the deficit soon.MORE IN This Just In(Editorís note: This is the first in a series looking into the investigation of the unsolved $1. Full Story
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