To the editor: Recent public comments by two of the candidates for village office suggest the current fund balance for the village is excessive and a future board should adopt policies. It is true that our village, compared to 12 years ago, is on sound financial footing. This is evidenced by the current credit rating of Aa3, exceptional for a small municipality our size with operating budgets approaching $20 million (includes general, water and sewer, and electric). Lake Placid is not a typical small municipality. It is equally true that fund balance should not be excessive as those funds essentially belong to the taxpayers. Generally, the growth of fund balance has been derived when departments have not expended all of their annual budgets and conservative management at all levels of the village has resulted in funds being returned to fund balance at year end. During recent years the village budget has employed fund balance to lower property tax rates, evidenced in budgets for 2019-20 ($425,000) and 2020-21 ($575,000). Certain amounts contained in the fund balance represent restricted funds held to cover accrued costs of the village, not yet payable. Today, the New York state controller rates municipalities based upon financial risk. I am able to report that Lake Placid is rated low risk, a position that many New York state municipalities are struggling to achieve.