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Town Meets Budget Goals

Finance Director Zachary Taylor told the Finance Committee this month that all of the town's financial goals for the current Fiscal Year 2018 will be met once Town Meeting Members approve the articles on next Monday's Special Town Meeting warrant. "We're accomplishing what we set out to do," he said. The town's financial team recommended:

• Raising and appropriating $2,205,500 through property taxes to pay for items on the warrant – including putting $500,000 into the town's savings account known as the Stabilization Account;

• Transferring $1,300,000 of the town's $3,390,942 in unspent "free cash" for property tax relief;

• Combining that $1.3 million in unspent cash with the $1,913,455 in excess levy capacity – an amount the town could raise through property taxes, but chooses not to – to provide a total of $3,213,455 in property tax relief; and,

• Carry over $2,090,942 in unspent "free cash" to next spring to pay for any snow and ice removal deficits and to be used for paying for requests on next May's Annual Town Meeting warrant.

Specifically pointing to the $3.2 million in property tax relief, Taylor commented, "This was our target and we were able to meet it." It marks the third consecutive fiscal year in which the town exceeded $3 million in taxpayer relief by not taxing as much as the town is allowed to under the limits of Proposition 2 ½.

"This is some unbelievable work by the financial team," commented Finance Committee Chairman Christopher Morin. The financial team consists of Town Administrator Richard Villani, Taylor, Town Treasurer Christopher Pilla, Town Accountant Thomas Brown and Financial Analyst Paul Abbondanza.




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