Town Revenue Projected $2 Million Over Budget

BudgetTaxes

Why it matters

Higher tax collections and lower expenses could reduce pressure on future tax increases or allow for additional town services.

What happened

Town revenue is estimated to exceed budget by approximately $2 million due to higher tax collection, investment income, Parks and Recreation programs and permitting activity
Board of Education projects $572,000 surplus attributed to personnel service savings of $119,000 and health insurance enrollment creating $560,000 surplus
Town expenses are projected $500,000 below budget due to personnel vacancies
Pension fund portfolio valued at $525,343,447 as of September 30, 2025
OPEB fund portfolio valued at $108,903,919 as of September 30, 2025
Board approved November 5, 2025 meeting minutes unanimously

What is next

Board will vote on operational rules, committee assignments, and meeting time changes at the December regular meeting. Officers cannot be selected until December per Town Charter.