During the March 13, 2023 meeting the Town Council voted 6-0 to send the Town Manager's Proposed Municipal Budget for FY 2024 (July 1, 2023 - June 30, 2024) to the Finance Committee for review.  The Finance Committee, made up of all seven Town Councilors, will begin reviewing the proposed budget on Monday, March 20 and Thursday, March 23, 2023 at 6:00 p.m. in the council chambers.  Both meetings will be streamed on CETV LIVE and available for future watching on CETV On Demand.

An overview of the major drivers within the budget, which includes all ongoing municipal departments and community services, was provided by Town Manager Matthew Sturgis.  With the assistance of the Finance Director John Quartararo, various elements of the municipal budget are in line with the prior year's format, with the continuation of cost centers under there.  At this point in the budget process, the total combined municipal and community services budget for FY 2024 is $18,465,267.  This is offset by revenues from all sources in the amount of $10,568,140.  The amount to be collected from property taxes is proposed to be $7,897,127, which is 11.2% more than last year.  As proposed, the budget will provide a net to taxes increase of 7.02%, or $0.30 increase on the Town portion of the tax rate.  The average 5-year increase in the municipal tax rate is 1.78%.  This year's municipal segment of the budget would equate to a $105 increase on a home valued at $350,000, or $8.75 per month.

The budget focuses on providing the best public services to the Town, retaining current employees and attracting new employees for vacant or positions anticipated to open.  Additionally, the budget is targeted to meet the stated Town Council goals for FY2024.

To follow along with the budget process, including documentation and video recordings, please visit the Town Budget 2023-2024 page.