The Town of Andover's budget-to-actual report for the most recent fiscal year indicates an unaudited surplus on the town side of roughly $200,000, Town Administrator Eric Sanderson told the Board of Finance on Oct. 22.

Sanderson said he intentionally provided the prior fiscal year's full-year budget-to-actuals because the town is close to entering its audit period. "It appears that the surplus on the town side will be somewhere just under $200,000 for last year," he said, and cautioned that auditors often make routine reclassifications that can change final totals.

Board members noted the community-wide figure shown in materials (about $527,000 under budget) and asked whether the school-side numbers were final. Sanderson said the school numbers are based on information provided to the treasurer and are not yet final; he said the auditor is expected to begin work in November and that certain expenditures can legitimately be booked to either of two fiscal years, which can change final results.

Members also discussed the check register. Sanderson explained a common July 3 transfer of $500,000 reflects movement into the state short-term interest-bearing account (STIF) to earn higher interest; funds are transferred back into the town's bank as needed to maintain minimum operating balances.

Sanderson said the treasurer compiles a binder of materials for the auditor and that board members may review those records on request.

No formal budget adjustments were adopted at the meeting; Sanderson recommended awaiting the auditor's final determinations before making changes.