The Board of Finance (BOF) has completed its review of the Town’s budget for the fiscal year ending June 30, 2025. A Public Hearing was held on April 24 to review the proposed budget, which is subject to change, based on feedback received at that meeting. The budget will be presented at a Town Meeting for approval on May 8.
The following chart summarizes the proposed fiscal year 2024-25 budget compared to the current year budget:

The General Government budget increase is due to higher payroll, higher utilities (burning fees and hydrant water), and higher election expenses (unfunded mandate for early voting). The higher payroll is due to normal contractual raises and cost-of-living increases, increased staffing in the Community Services department (which is expected to generate higher programming fees), increases in salaries needed to recruit new employees, and increased hours for a couple of positions needed for operations. Lower health insurance and pension expenses are partial but significant offsets.
The Board of Education budget increase is due to higher salaries (largely contractual), higher special education-related expenses (tuition and transportation), lower grants, and higher utility and other building operating expenses. Lower medical insurance expenses are a partial but significant offset.
Capital Expenditures includes approximately forty different items recommended by the Advisory Commission on Capital Expenditures (ACCE) that are necessary to repair, replace, and/or improve the Town’s capital assets. The largest single item on the list is for road maintenance of $600,000. Other larger items include a replacement of the gym floor at the Middle School, police cruisers, and synthetic playground surfacing for the two new playscapes at the Spaulding and McAlister schools that will increase handicap access. The Townwide Public Safety Radio project, which is estimated to cost approximately $5.5 million and take two years to fully implement, was removed from the ACCE list and will instead be funded with a bond along with other larger capital projects. Since this large project was removed, we are transferring $2,250,000 to the Capital & Non-Recurring Expense Fund to help fund future capital projects that may arise from the Facilities Master Plan Study.
On the revenue side of the ledger, non-property tax revenues are higher primarily due to increased interest income on Town deposits and higher Community Services programming fees as noted above.
Grand list growth, before the impact of revaluation, was smaller than usual at 0.68% because of a reduction in the value of automobiles. The impact of revaluation increased the Net Collectible Grand List of real estate by 34%, which significantly reduces the mill rate.
The BOF has also considered long-term trends, our financial position, and future projections when determining the appropriate mill rate. The BOF reviews the Town’s balance sheet, including the Undesignated fund, the CNRE fund, and the Medical Insurance fund on the asset side, and the Pension Fund and OPEB Fund on the liability side. The BOF believes our balance sheet is in excellent condition.
If you would like to learn more about the proposed budget, feel free to review budget materials on the Town’s website and plan to attend the Public Hearing and the Town Meeting on the budget. We will be happy to answer any questions that you may have.