The Board of Selectmen on January 31 approved a Total Expenditure Budget of $164.55 million for fiscal year 2022-23, representing an increase of 6.50% over the fiscal year 2022 budget.
The Selectmen’s budget recommendation now goes to the Board of Finance for review during February, and a Board of Finance budget recommendation will then go to the Town Council by March 4th. The Town Council may accept, reduce or reject the Finance Board’s budget recommendation at a Budget Meeting scheduled for March 30th.
The Total Expenditure Budget includes Total Town expenses of $40.52 million (up 4.81%), Board of Education operating budget of $100.20 million (up 8.59%), debt service of $18.10 million (up 2.73%), and tax-supported capital projects of $1.37 million (down 20.80%).
First Selectman Kevin Moynihan commented: “The Fiscal Year 2023 Budget passed on today by the Selectmen reflects significant increases in both the Town’s and the School District’s operating and employee health projected expenditures due to inflation in wages, materials and purchased services. The budget now goes to the Board of Finance and I expect Finance will be able to reduce some of inflation’s impact through the use of reserves and other means of smoothening employee health expenses. However, it is inevitable that we will see larger increases in the amount to be raised from taxation and in the mill rate in the next fiscal year than we have seen in the prior three fiscal years.”
The First Selectman noted that the Town Assessor has reported that the Town’s 2021 Grand List increased by 1.76% to $7.94 billion from the 2020 Grand List of $7.8 billion.
For further information, contact: Joshua Kaufman, Budget Manager, 203-594-3026.