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Good financial news

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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.

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