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Board of Finance Meeting Notes: 3/27/17

Board of Finance Meeting 3/27/2017

Notes submitted by Ed Munster on 3/29/17

No Increase in Haddam’s General Government Budget in 2017-18

The Board of Finance meeting on 3/27/17 concentrated on refining the amounts the Town will budget for insurance benefits, debt service, contingency funding and capital projects and was able to decreases in each of these areas.

It is looking like Haddam’s general government budget is going to come in at a near zero percent increase compared to last year.  Because of the increase in Haddam’s student population compared to Killingworth’s, even if RSD #17 is able to get their budget down to a zero percent increase, Haddam’s cost for education will increase by approximately $300,000. 

The loss of revenue to Haddam from the state together with the increase in education spending due only to the student population shift will result in at least a 1.5 mil increase for Haddam’s taxpayers and it could be more depending upon the actual BoE budget and the final version of the state budget.

The video of this meeting is available on VSCTV Channel 19; just click HERE. When the official minutes are released, they will be found here.