East Granby Finance Board Revises Budget, Calls for 1.11% Tax Increase

The following is a press release from the town of East Granby

On Wednesday May 23, 2012 a second budget referendum was held regarding the proposed 2012-13 East Granby Annual Town Budget totaling $18,911,568, which represented an overall increase of 2.3 percent over the current fiscal year and a projected tax increase of .5 mills or 1.85 percent. The budget was defeated by a margin of 577 against and 547 in favor. The first referendum held on May 8 proposed an operating increase of 3.2 percent and was voted down by a margin of 590 to 423.

The Board of Finance convened immediately after the current Referendum and proposed a revised 2012-2013 budget of $18,848,666 or an increase of 2.01 percent over the current year’s expenditures. It is anticipated by the Board of Finance that if this budget passes it will represent a tax increase of .3 mills or an increase of 1.11 percent over the current year.

The revised budget reflects a reduction of $62,902 when compared to the budget which was defeated on May 23, 2012. The Board of Education budget was reduced $60,000 to $14,040,000 or an increase of 3.28 percent over the current year, the General Government budget was kept at $4,218,000 or a 2.5% increase over the current year, the Capital Reserve Fund Budget was set at $416,666 and Debt Service was set at $174,000.

The Board of Selectman will be meeting on May 29 and anticipate calling both a Town Meeting and a subsequent full-day referendum vote to take place in early June. More information will be forthcoming as soon as it becomes available. Please call the Selectman’s office at 860-653-2576 with any questions.