Woodbridge reports $400,000 surplus through May; officials flag $260,000 police shortfall

The Board of Finance was told June 18 that Woodbridge’s finances are in a positive position through May 2026 but face important pressures ahead. Finance director Tony said the town shows about $400,000 in surplus year-to-date, driven by a $233,000 increase in tax receipts and a $163,000 building-permit payment tied to a private solar farm now under construction on the former golf-course property off Racebrook Road.

"You're in surplus about $400,000," Tony said, noting the town would still be at ‘‘over 15%’’ fund balance. He confirmed the permit revenue was received and deposited, saying, "We actually received the check and it was rather deposited." Tony added that some rental income and transfer station fees were below expectations but that several department surpluses helped offset those gaps.

Tony also warned of cost pressures. He said legal fees have produced a current deficit that staff will analyze and report back to the board, and he estimated the police department will face a roughly $260,000 shortfall related to the collective-bargaining agreement and retroactive pay. Tony said he plans to use surplus annuity funds and surplus expenditure funds to cover part of that shortfall and will present a fuller analysis at the next meeting.

Board members pressed for details on the solar-farm revenue and its location; Tony confirmed the project is private and under construction on the former golf-course property near Racebrook Road. Members also discussed specific departmental variances, including a $60,000 waste-management surplus and a roughly $20,000 surplus forecast in human services.

The board did not take new borrowing actions during the meeting but asked staff to return with more detailed legal-fees analysis and the year-end forecast. The next meeting will include a deeper review of debt service and assumptions for upcoming capital projects.