Board of Finance of the Town of Wilton
Notice of Public Hearings
Pursuant to Article VII, Subsection C-30 D of the Wilton Charter, notice is hereby given that the Board of Finance of the Town of Wilton will hold public hearings on the Fiscal Year 2022 budgets proposed by the Board of Selectmen, the Board of Education and the Board of Finance at the times and places below:
BOARD OF EDUCATION/BOARD OF FINANCE: Monday, March 29th, 2021, 7:00 p.m. on Zoom
https://us02web.zoom.us/j/85438546466
BOARD OF SELECTMAN/BOARD OF FINANCE Tuesday, March 30th, 2021, 7:00 p.m. on Zoom
https://us02web.zoom.us/j/85438546466
At the hearings all interested persons and taxpayers of the Town of Wilton are invited to make comments or inquiries regarding the proposed budgets. Residents who wish to speak should indicate such by using the “raise the hand” function on Zoom. Instructions will be provided at the meeting. Residents can also submit public comment to Jeffrey.Rutishauser@wiltonct.org prior to or after the meeting.
The proposed expenditures are presented below in summary form, together with the estimated revenues and estimated rate of taxation. Copies of the detailed requests are available on the Town’s website on these links:
Preliminary estimates by the Board of Finance for the rate of taxation necessary to support the Fiscal 2022 proposed budget are as follows and compared to approved budgets for FY2021 and FY2020:
FY2022 Proposed |
FY2021 Approved |
FY2020 Approved |
|
Operating Expenses |
|||
Board of Selectmen Operating |
$ 32,210,253 |
$ 32,097,312 |
$ 32,542,102 |
Board of Selectmen Capital |
$ 1,275,233 |
$ 818,412 |
$ 1,273,727 |
Board of Education |
$ 84,804,215 |
$ 82,344,563 |
$ 82,344,563 |
Debt Service |
$ 9,224,024 |
$ 9,015,040 |
$ 10,153,497 |
Operating Expenses |
$ 127,513,725 |
$ 124,275,327 |
$ 126,313,889
|
Reserve (aka Charter Authority) |
$ 1,275,137 |
$ 2,969,160 |
$ 473,491 |
Total Operating Requirements |
$ 128,788,862 |
$ 127,244,487 |
$ 126,787,380 |
Funding of Operating Requirements |
|||
Non-Tax Revenue |
$ 5,443,649 |
$ 4,349,276 |
$ 4,753,424 |
Use of Excess Fund Balance |
$ 3,858,040 |
$ 7,719,577 |
$ 2,851,773 |
Balance to be Funded by Property Taxes |
$ 119,487,173 |
$ 115,175,634 |
$ 119,182,183 |
Calculation of Funding from Property Taxes |
|||
Elderly and Disabled Tax Relief |
$ 1,210,000 |
$ 1,210,000 |
$ 1,210,000 |
Tax Relief for WVAC and Georgetown |
$ 20,750 |
$ 20,750 |
$ 20,750 |
Property Tax Funding Required |
$ 120,717,923 |
$ 116,406,384 |
$ 120,412,933 |
Estimated Grand List |
$ 4,326,099,334 |
$ 4,281,687,742 |
$ 4,249,234,560 |
Estimated Collection Rate |
99.3% |
99.0% |
99.3% |
Collectible Grand List |
$ 4,295,816,639 |
$ 4,238,870,865 |
$ 4,219,489,918 |
Required Mill Rate |
28.1013 |
27.4616 |
28.5373 |
Required Mill Rate Increase |
2.33% |
-3.77% |
1.24% |