The Fiscal Year 2015 budget for the Town of Mansfield is rapidly coming into final form. The budget process started in January with a deficit projection of approximately $2,600,000.
Since January, Town and School staff, along with the Finance Committee, have been able to reduce projected expenditures and use more current revenue projections to reduce the projected deficit to a current amount of approximately $490,000.
The major reductions included:
- Increases in employee health insurance costs, which were projected to be 5% and turned out to be 3%
- Reductions in certain increases in various programs within the budget that have been reduced to match available revenue
- Increased revenue projections, most particularly local revenue in areas such as vehicle excise tax and food and beverage tax based upon 3 more months of history for current fiscal year.
We continue to work together to further refine the budget and eliminate any deficit before the budget is presented at Town Meeting. Our goal is to have the budget in balance well before Town Meeting so that the School Committee, Board of Selectmen and Finance Committee can all agree on a final budget proposal, with sufficient time to distribute the budget to the community well ahead of Town Meeting.
We are proud of the work that has been done to date, and we will continue working together to provide the highest quality services and educational opportunities in the community while recognizing the fiscal restraints that we all live with, both in our business and personal lives. For any additional information, please contact the Town Manager’s office at 508-261-7370 or the office of the Superintendent of Schools 508-261-7500.