(5/25) At the May 15 town meeting, the Town Council reviewed the FY-24 General and Water & Sewer Fund budgets, which collectively amount to $3,938,196, an increase of $261,829 over last year.

The General Fund budget calls for revenues of $2,181,496, an increase of $128,279 over last year. Real estate taxes account for approximately $750,000 of the town’s revenue, an increase of $15,000 over last year. The increase in property tax revenue is a result of the effects of inflation and the Council’s decision not to reduce the property tax rate this year.

$315,000 in town revenue is coming from the town’s ‘piggy back’ tax on residents’ state income tax payments; $434,028 comes from the County as ‘rebates’ for the town expenses related to the town providing services such as police coverage & parks, which the county is required to provide; and $175,761 comes from ‘highway taxes,’ i.e. state motor fuel and vehicle taxes distributed to local governments for their own road and bridge maintenance.

Other sources of income include Interest on town’s bank accounts, rental and amusement income and Pool memberships and admissions.

The General Fund budget anticipates $2,181,496 in expenditures, with total recurring expenses making up the $2,092,267. This is an increase of 6% over last year.

General Fund expenses include approximately $640,000 for staff salaries; $297,000 for parks; $157,000 for trash and yard waste collection; $286,000 for planning and zoning related expenses; and $147,000 for building & street maintenance.

Other recurring expenses included Employee health benefits, street light maintenance, and $6,000 in contributions to the Vigilante Hose Company. The budget for the Sheriff's Office, which provides two deputies to the town, is also paid out of the General Fund, will increase from $276,180 to $290,030.

A notable increase for FY 2024 is in legal fees. They jump from $9,500 last year to $30,500 this year in the legislative department and from $30,000 to $64,000 in the Planning and Zoning Department. "Historically our legal fees have been increasing year by year and that's predominantly due to interest in the town from developers, updating code and charter, and dealing with code enforcement issues," said Town Manager Cathy Willets,

Capital expenditures will include rollover for several projects, such as new parking meters and trail maintenance. New projects include new curbs, gutters, sidewalks and roads as well as streetlights for the town.

The 2024 Water & Sewer Fund’s revenue is $1,756,700 coming primarily from residents and business payments for water and sewer use. Expenses total $1,698,956 with salaries and benefits hitting the hardest.

For more information, residents can view the introduced budgets on the town website.