$93.1M Waterford budget heads to RTM

Waterford — The Board of Finance wrapped up its weekslong review of the 2018-19 town budgets Wednesday, recommending a $93.1 million total budget that would increase spending by about $2.4 million spread across town departments and schools.

The proposed municipal budget of $33,281,861 represents about a $1 million, or 3.5 percent, bump over this year’s spending, largely driven by higher retirement and insurance costs.

The Board of Finance made no adjustments to the $48,306,332 budget approved by the Board of Education in February. The schools budget increased spending by about $1 million, or 2.15 percent. Contractual raises, health insurance and student transportation made up the bulk of the added school spending.

Superintendent Tom Giard said his team was pleased that, “given such fiscally challenging times, the Board of Finance passed our budget. It is a budget that is fiscally responsible but also allows our school district to move forward.”

The 22-member Representative Town Meeting will conduct a final review of the budgets in May. The RTM also will examine $11.6 million in combined debt payments and capital improvement projects.

The total proposed budget of $93.1 million amounts to about a 2.6 percent increase over 2017-18 spending.

Officials noted it was still too early to tell what the final tax rate implications would be before knowing state revenue numbers in May.

But finance board member Bill Sheehan estimated the tax rate to rise by approximately 3 percent if the budget stays as-is.

“We try to keep it under 3 percent,” Sheehan said. “Our department heads are professional and come in with reasonable numbers and we cut around the edges. We don’t have the big battles that other towns have.”

Wednesday’s vote, which followed a public hearing with no speakers, finalized about $40,000 in adjustments to a range of department requests.

The Board of Selectmen had reduced department and commission requests by a total of about $10,000 earlier this year.

Municipal retirement and insurance costs rack up to about $590,000 in added spending compared to the current year.

Selectmen and finance board members also recommended an increase of at least $300,000 in police department spending, in part to hire more officers to help cut down on overtime costs.

RTM budget sessions begin at 7 p.m. May 7.