Proposed 2015 Budget Now Online

The complete fiscal 2015 proposed budget is now online on the Town of Portsmouth's Web site.

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