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The NBPD project was reported $194,542.22 over budget after Finance corrected a $157,000 interest-expense entry and restored approximately $45,000 in expenses. The Town Council will need to take action on the funding shortfall.
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The project’s available budget is insufficient to cover its reported costs. Finance identified accounting changes that increased the project’s recorded expenses, including actual interest of $524,000 compared with an original $250,000 budget. The Town Council is expected to decide how to address the $194,542.22 overage.
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