The town posted a surplus of $958,000 in fiscal 2012, which ended June 30, according to a press release from the Board of Selectmen. “For the first time in two years, the board can report that our crucial financial systems are strong and we have a stable base for moving forward,” the release said. The town’s finance director, Mary Gallagher, said the surplus was primarily the result of higher-than-anticipated state and local receipts, the foreclosure sale of a property on Jerusalem Road, and a freeze on spending. She said the state Department of Revenue, at the selectmen’s request, is reviewing Cohasset’s financial management and will make recommendations on ways to improve it.
By Johanna Seltz| Globe Correspondent November 21, 2012
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