AGENDA REQUEST
GENERAL DISCUSSION ITEM
Subject:
title
Discussion and possible vote on contribution allocation for FY 25/26.
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Background:
During the December 17, 2024, meeting Frederica Daniels, USI Actuaries said at this time last year the Board voted to contribute $950,000 which is above the minimum of $700.000 and a bit below the 1.1 million contributed in the past few years. She then asked if the Board wanted to continue with the contribution of $950,00 for Fiscal year 25/26. Mr. Thorne suggested contributing $950,000 and 3%. Mayor Allyn III said that there are a few things on the new year fiscal year horizon that will need attention such as the Veterans exemption which could possibly cost the Town half a million per year and the taxation issue that comes up each year which mayd cost between $500,000 - $600,000. Chairman Rodolico asked Mayor Allyn when the Board needs to give the final figures. It was answered that the department heads are working on the budgets now. Chairman Rodolico asked Christina Hostetler, Town Hall Assistant to put an agenda item on the January 21, 2025, agenda to discuss this further.
Department Comment/Recommendation:
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