Board of Selectmen Approves FY 2024-2025 Budget of $176.77 Million– An Increase of 6.09% Over Current Fiscal Year
The Board of Selectmen on January 30 approved a Total Expenditure Budget of $176.77 million for fiscal year 2024-25, representing an increase of 6.09% over the fiscal year 2023-24 budget.
The Selectmen’s budget recommendation now goes to the Board of Finance for review during February. A Board of Finance budget recommendation will then go to the Town Council by March 12. The Town Council may accept, reduce or reject the Finance Board’s budget recommendation at a Budget Meeting scheduled for April 2.
The Total Expenditure Budget includes Town Department operations expense of $33.8 million (up 4.31%), Board of Education operating expenses of $109.82 million (up 6.59%), Debt Service of $18.45 million (up 0.34%), and tax-supported Capital Projects of $1.92 million.
First Selectman Dionna Carlson commented: “The Fiscal Year 2024-2025 total expenditure budget approved today for the Board of Finance to consider represents a 6.09% increase over the current year’s expense budget. This budget reflects a commitment to hold the line on spending while maintaining services to town residents and continually striving for improvements and efficiencies. Continued pressure from inflation, increased expenses for information technology, early voting election expenses, additional School Resource Officers, additional staffing in the school district along with a large increase in the school health insurance reserve are the primary drivers of the proposed budget increase. This is a challenging budget year, and as we gain more insight into the current year expenses during the coming months, I remain optimistic that we will find additional opportunities to reduce the FY 2024-2025 budget before it becomes final in April.”
The First Selectman noted that the Town Assessor has reported that the Town’s 2023 Grand List increased by 23.61% to $9.909 billion from the 2022 Grand List of $8.016 billion.
Board of Selectmen FY24-25 Budget Summary