First Selectman Gives an Overview of the Budget Proposal

Editor's Note: The following is an open letter from First Selectman Steve Vavrek to town residents.

2013 – 2014 Budget Overview

This budget proposal has been approved by the Board of Finance after a review process of the consolidated budget which includes the Board of Education, Town, operating debt service and reserve funding for the Town.

Local revenue is at a lower level which is reflective of both the local economy and anticipated lower funding from the State.  The reduction from anticipated levels in the current year is approximately $ 488,090. Flat funding is also expected from the State in regard to education cost sharing.  We hope that the State keeps this funding level within their budget deliberations.

The Town operating budget as presented is an increase in expenditures of $1,055,175.  This represents a 5.51% increase.

The Board of Education budget as presented is an increase in expenditures of $900,180. This represents a 1.75% increase.

The main drivers of the above increases are; ongoing Road Repairs, Student Resource Officers, School Security, Full Day Kindergarten, DPW Vehicles, Social Service Counseling, Town Hall and School Building Renovations.

Debt service has increased by $165,514 or 2.96% driven by higher principle payments of $250,000 over the prior year.

Total expenditures at present in the budget are $80,516,583.  This represents an increase of $1,903,959 over the current year’s budget or 2.42%.

Funding sources in this budget call for $350,000 in supplemental taxes which is $100,000 more than the current year’s budget.  Prior year’s taxes are projected at $400,000 which is the same as prior year and current year’s taxes will increase $2,293,049 or 3.44%.

This budget keeps us on the right track of fixing what needs to be fixed and addresses many issues that we have all ignored over the years.  All department heads are to be commended for their fiscal constraints while still addressing the many needs of the community.  After numerous internal staff meetings, public Board of Education, Town Council and Board of Finance meetings and votes, we have compromised additional services and equipment to bring this budget to the level that hopefully finds support of you, the voters of Monroe.

Stephen J. Vavrek

First Selectman

This is the budget going to the voters on April 2: http://www.monroect.org/page182134330.aspx