Department of Revenue keeping Saugus on a tight leash

SAUGUS-The Department of Revenue is happy with the way the things have wrapped up fiscally but said it plans to keep the town on a short leash for at least one more year.DOR Director of Accounts Gerald Perry’s letter to Town Manager Andrew Bisignani is favorable, but doesn’t exactly setting the town free. In fact, he lays out several requirements the town still must meet before it is in the clear.It was little more than a year ago the town was looking at possible state intervention due to escalating debt, shortfalls in revenue and a healthcare plan that was in over its head. But over the last year, the town has made strides by cutting the budget to make ends meet, putting the Kasabuski Ice Arena out to bid and overhauling the town’s healthcare plan by joining the state’s Group Insurance Commission.”The town has faced difficult challenges over the past few years, and I am happy to report that the financial position of your community has improved,” Perry wrote. “This improvement is due in part to several decisions made, specifically with the town joining the GIC, contracting out for the Kasabuski Rink, and providing the necessary funds to close the rink deficits.”But, Perry said, he still has several requirements the town needs to follow that include an independent audit completed by June 30, 2009, balance sheets completed, free cash certified and any deficits – which Bisignani said don’t exist – must also be dealt with before the 2010 tax rate can be set.Bisignani said he is relatively happy with what he called a complimentary letter.”But they will still be keeping a leash on us, they said, for one more year,” he said. “I can live with that. It keeps us on our toes.”