Both the proposed town and school budgets for fiscal 2012-2013 were decreased recently due to a favorable reduction in overall health care costs for town employees (a $8,000 reduction) and Board of Education employees (a $77,000 reduction) by working with the town's Medical Insurance Brokers, USI.
The new total budget figures are $15,017,314 for the town (from $15,025,314) and $31,309,290 for the schools (from $31,386,290).
Below is a chart of the new budget figures which reflect the reductions. Please note that the 2011-2012 column is for the current budget which began July 1, 2011 and ends June 30, 2012. The 2012-2013 budget begins July 1, 2012 and ends June 30, 2013.
Appropriation 2011-2012 % change $ change 2012-2013 Town Budget Operating Budget $12,456,990 5.08% $632,978 $13,089,968 Debt Retirement $1,352,945 1.66% $22,401 $1,375,346 Capital Improvement $478,850 15.28% $73,150 $552,000 Total Town $14,288,785 5.10% $728,529 $15,017,314 School Budget Operating Budget $30,183,463 0.92% $278,265 $30,461,728 Debt Retirement $572,122 -15.04% ($86,060) $486,062 Capital Improvement $381,721 -5.30% ($20,221) $361,500 Total School$31,137,306 0.55% $171,984 $31,309,290 Total Appropriations $45,426,091 1.98% $900,513 $46,326,604 Revenues Intergovernmental School
$6,865,651 1.12% $77,218 $6,942,869 Intergovernmental Town $720,648 12.20% $87,938 $808,586 All other fees & permits $1,253,100 12.02% $150,600 $1,403,700 Property Tax Revenues Volunteer Fire Tax Exemption ($50,000) 12% ($6,000) ($56,000) Tax Relief for Elderly & Disabled ($130,000) 0% 0 ($130,000) Revenues from Taxation $36,766,692 1.61% $590,757 $37,357,449 Total Revenues $45,426,091 $900,513 $46,326,604 Net Grand List $1,490,408,085 0.43% $6,423,001 $1,496,831,086 Tax Collection Rate 99.00% 98.80% Mill Rate 24.92 1.36% 0.34 25.26
