$4.8M in free cash filling town coffers; Surplus should boost financial ratings.
| Jurisdiction | United States |
| Date | 11 October 2007 |
Byline: Elaine Thompson
SHREWSBURY - The state Department of Revenue has certified the town's fiscal 2008 free cash in the amount of $4,850,038, which is $712,200 more than last year's amount.
In a letter to the Board of Selectmen last week, Town Manager Daniel J. Morgado said the $4,850,038 indicates the erosion of free cash that began in fiscal 2002 has abated and the balance has stabilized. The town's most recent lowest free cash amount was $1.9 million at the end of fiscal 2005. The...
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