FINANCIAL BUSINESS REQUEST (FBR)
Motion/Request:
title
MOTION to adopt the Fiscal Year 2025/2026 Budget in the amount of $70,364,977 comprised of:
• General Government: $29,902,735_
• Board of Education: $40,462,242.
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Background:
In accordance with Chapter VII; Section 6 of the Town Charter, in the event that the second referendum does not approve a budget; the Town Council shall adopt a final budget by the fourth Monday in June. Should both the referenda and the Town Council fail to adopt a final budget by the fourth Monday in June, the budget that was presented at the second referendum shall be deemed to have been adopted, and expenditures made in accordance there with for the ensuing fiscal year.
Town Council June 11, 2025 Meeting:
With both the May 20, 2025 & June 10, 2025 Budget Referendums failing the Town Council made additional Budget Allocation Adjustments at their June 11, 2025 Meeting
Approved the following adjustments to the proposed Fiscal Year 2025/2026 Budget:
Account # Title Salary (change from 6/10/2025)
1011-2101-51600 Finance Director $133,000 $17,083
1011-0311-51600 Town Clerk $ 77,400 $ 7,639
1011-4301-51600 Land Use Director $108,150 $ 6,084
1011-0205-51606 Human Resource Director $ 97,850 $ 1,442
Total General Government Increase: $32,248
In addition, Adjusted the following Accounts:
Account # Title Reduction (New Amount 6/11/2025)
10110101-5879 Contingency-Town Council $4,000 $ 3,000
10110201-58790 Contingency- Mayor $5,000 $ 1,000
10110201-51305 Town Hall Floater $9,692 $ 19,000
10120301-5611 Fire Marshall Oper $2,000 $ 6,000
10140107-56301 Sand and Salt $10,000 $125,000
Total General Government Operating Decrease $30,692
Board of Education Capital
Title Reduction
Board of Education Capital $45,000
Total Board of Education Decrease $45,000
Department Comment/Recommendation:
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Finance Director Comment/Recommendation:
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Mayor Comment/Recommendation:
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