R-19-184
RESOLUTION
APPLYING SURPLUS IN REDUCTION OF TAXES
CITY OF NASHUA
In the Year Two Thousand and Nineteen
RESOLVED by the Board of Aldermen of the City of Nashua
WHEREAS the recently adopted New Hampshire State budget will provide unanticipated funds
to Nashua in the following amounts:
Municipal Aid $ 1,828,365
State Adequacy Aid 2,168,978
State Catastrophic Aid for Special Education 737,294
Total: $ 4,734,637
WHEREAS previously by Resolution 19-174 the Board of Aldermen directed $4.5 million of the
unassigned general fund balance be applied to reduce the Calendar year 2019 tax rate;
And WHEREAS it now appears fiscally prudent and will result in lower taxes for $6,234,637 to
be applied to reduce the tax rate, this $6,234,637 consisting of the total $4,734,637 in
unanticipated funds referred to above and $1,500,000 of unassigned fund balance;
NOW THEREFORE it is resolved that R-19-174 is rescinded and pursuant to NRO §5-135, B,
$1,500,000 of the unassigned fund balance be applied to reduce the calendar year 2019 (fiscal
year 2020) Tax Rate. With this action the unassigned fund balance remains at or above the five
percent (5%) minimum recommended by the N.H. Department of Revenue Administration and
the ten percent (10%) minimum of NRO §5-136, A.
