Old Lyme holds line on bud­get

Spend­ing plan for 2018-19 headed to May 21 town meet­ing

The Day - - REGION - By KIM­BERLY DRELICH Day Staff Writer

Old Lyme — About 15 res­i­dents and lo­cal of­fi­cials at­tended a pub­lic hear­ing Mon­day in which the Board of Fi­nance chair­man pre­sented a nearly flat bud­get for 2018-19.

With gen­eral gov­ern­ment and cap­i­tal spend­ing, the town’s pro­posed bud­get is $9,957,916, or about 1.4 per­cent more than the cur­rent year’s bud­get.

But with the town see­ing a de­crease in its share of the Lyme-Old Lyme Board of Ed­u­ca­tion bud­get, the town’s over­all pro­posed 2018-19 bud­get is slightly less than last year and stands at $36,301,175, down from $36,355,031 in 2017-18.

Though Lyme-Old Lyme’s Board of Ed­u­ca­tion’s bud­get is set to in­crease over­all next year, money will be re­turned to the town as a billing credit since the district’s au­dit for the year end­ing June 30, 2017, showed the district did not spend all the money that was bud­geted, Board of Fi­nance Chair­man Andy Rus­sell said.

Old Lyme’s tax rate is pro­jected to in­crease from 21.75 mills to 21.91 mills next year, but the Board of Fi­nance will vote to set the tax rate af­ter the town bud­get vote on May 21.

The Board of Fi­nance is us­ing $300,000 from the town’s sur­plus for next year’s bud­get to soften the im­pact of the bud­get on tax­pay­ers and fi­nal­ized the bud­get Mon­day af­ter the pub­lic hear­ing.

A res­i­dent with a home as­sessed at $243,000 who pays $5,285 in taxes per year under the cur­rent tax rate would pay $5,324 next year, ac­cord­ing to Mon­day’s pre­sen­ta­tion.

A res­i­dent with a home as­sessed at $378,100 who cur­rently pays $8,224 per year would pay $8,284 next year.

A home­owner with a res­i­dence as­sessed at $878,000 who cur­rently pays $19,097 would pay $19,237 next year.

The town is ex­pect­ing a $109,026 de­crease, or 22.5 per­cent less, in state aid, ac­cord­ing to the pre­sen­ta­tion. The town is an­tic­i­pat­ing no Ed­u­ca­tion Cost Shar­ing grant for

next year.

The town’s li­a­bil­ity and health in­sur­ance is pro­jected to in­crease next year, Rus­sell said.

The bud­get in­cludes fund­ing for a mos­quito erad­i­ca­tion pro­gram; a study to look at im­prov­ing Halls Road and the pos­si­bil­ity of us­ing tax in­cen­tives; a part-time em­ployee to help with ac­tiv­i­ties at the Lymes’ Se­nior Cen­ter; and road main­te­nance, ac­cord­ing to the pre­sen­ta­tion.

A project to con­vert the light­ing at Town Hall into LEDs and bet­ter in­su­late the build­ing to save on en­ergy bills; as­sis­tance with a lift at the Old Lyme His­tor­i­cal So­ci­ety’s head­quar­ters to im­prove ac­ces­si­bil­ity; re­pairs to the se­nior cen­ter porch; and par­tial pay­ment for a dump truck with a plow are among the other ini­tia­tives funded in next year’s bud­get, ac­cord­ing to the pre­sen­ta­tion.

The bud­get also in­cludes $15,000 for a study of re­pairs to Lower Mill Pond Dam and $300,000 to­ward the re­place­ment of the Mile Creek Road Bridge.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.