Here are the highlights:
- Taxes increase of 2.4 percent based on levy.
- Budget calls for total expenditures of $57,828,283 an increase of 2.2% from fiscal year 2014.
- Local Appropriation to School is $30,848,093; this is an increase of 1.98%
- Two (2) positions in public works that were eliminated in prior years were planned to be restored but cost associated with results of police arbitration have reversed this.
- A position added mid year in fiscal year 2014 (clerk in collector/assessor office)is reflected in this budget.
- Total wages increase 1.35%. Base wages increase 3.95% and overtime budget decreased 19.38%
- Benefits (payroll taxes, healthcare and pension) increase 31.73% with the bulk coming from pensions which increase 52.68%.
- 52.68% increase in pension cost result of Police Pension increase of 131.82%
- Collection rate change to reflect historic results from 96.85% to 97.00%
- Income from Fees and Licenses budget increase 2.65%
- Additional funding in budget for legal as this line item is consistently over budget.
- Additional funding to address Town IT infrastructure
- $1,000,000 for road improvements
- $245,118 for Fund Balance towards Town’s goal of a Fund Balance of 16%
- $275,000 as a transfer to the Turbine Fund to meet annual obligations
We'll be posting more details about the budget in the coming days.