News From The Town Of Wilton Board Of Finance - Oct. 28, 2025

Press release from the Town of Wilton:

October 28, 2025 - 8:08am

Hello Wilton Residents,

FY2027 Budget Guidance

At our October Board of Finance (BOF) meeting, we began the initial phase of developing the Fiscal Year 2027 (FY27) budget and mill rate. This starts with setting preliminary budget guidance - the financial framework the Board of Selectmen (BOS) and Board of Education (BOE) use to prepare their respective budgets for the coming year.

First Selectwoman Toni Boucher and Superintendent of Schools Dr. Kevin Smith provided early projections for FY27:

• BOS: $38.6 million (+4.1% / +$1.5 million). First Selectwoman Boucher noted that this projection does not yet include increases for medical insurance or wage adjustments for union employees, as all four collective bargaining agreements are open for FY27.
• BOE: $100.9 million (+4.1% / +$4.0 million). Dr. Smith reported that student enrollment declined by approximately 80 students this school year, with projections showing an additional decline of ~20 students in FY27 and ~67 in FY28.

Both boards will continue refining these figures over the coming months.

For context, the BOE budget typically represents about 67% of total town spending, while town operations account for roughly 25%. The remainder reflects debt service, reserves, and tax relief.

Some BOF members raised concerns about what these early numbers could mean for the mill rate and overall tax burden. The Board will continue to review the underlying drivers and refine the guidance in November before it is finalized.

Long-Term Infrastructure Spending and Debt

The BOF also reviewed Wilton’s long-term debt outlook. Even with next year’s planned bond issuance, the town’s existing debt is projected to decline over the next decade. That downward trend creates capacity for an estimated $100–$130 million in future capital projects - covering schools,roads, town buildings, and recreation facilities - without materially increasing Wilton’s overall debt service burden.

In short, Wilton remains well-positioned to invest in its infrastructure while maintaining a responsible level of debt.

What’s Next

The BOF expects to set formal FY27 budget guidance at our next meeting on Tuesday, November 11. The agenda and Zoom link will be posted on the Town website in advance.

It’s important to note that budget guidance is not a mandate - it’s a starting point. It gives the BOS and BOE a shared financial target to help build their budgets in a coordinated and transparent way.

Your Voice Matters

Budget season is when resident input has the greatest impact. If you have questions, concerns, or feedback, please share them with us at boardoffinance@wiltonct.gov.

Thank you, as always, for your engagement and partnership in this process.

Matt Raimondi

Chair, Wilton Board of Finance

matthew.raimondi@wiltonct.gov

This press release was produced by the Town of Wilton. The views expressed here are the author’s own.