The Town Council on April 2nd approved a Total Expenditure Budget of $152.22 million for fiscal year 2020-21, representing an increase of 0.19% over the current fiscal year’s adjusted budget expenditure of $151.94 million. The funds to be raised by taxation declined to $138.49 million from the current year’s $139.08 million, a decrease of 0.42% -- the second successive year of decline.
The Total Expenditure Budget includes Board of Education operating expenses of $81.12 million (up 2.5 %) and Board of Education transfers to the Health Internal Service Fund expenses of $9.76 million (down 20.60 %) for a combined Board of Education expense budget of $90.88 (down 0.61 %). Town department operational expenses were $28.46 million (down 1.77%). Other budget items include debt service of $16.99 million (up 0.88 %) and tax-funded capital projects of $2.22 million (up 28.65 %). To fund this budget, the amount to be raised from taxation is $138.49, (down 0.42%).