Madison Officials Eying Budget Cuts, Bracing for State Aid Reductions

MADISON, CT - Madison town officials are leaving nothing for chance when it comes to next year’s budget request.

Town officials were informed their $1.5 million Education Cost Share grant could be eliminated by the state to help plug its own massive budget deficit in Hartford.

Madison officials were considering a $80.36 million spending plan for fiscal 2016-17, but in light of the potential loss of state funds, officials are now looking to reduce the budget by 5 percent in an attempt to lessen the burden on local taxpayers next year, the Madison Source reports.

A 5 percent reduction would result in a $79.84 million spending plan or a 2.46 percent hike over this year’s budget, the Source reports.

Under this revised budget, the tax increase for residents would be less than 3 percent.

Officials also tell the Madison Source that they are also preparing to possibly add some money back into the budget if in fact the town’s state education funds aren’t cut as drastically as they might be.

The budget referendum is scheduled for Tuesday, May 24.

Read the full Madison Source story here.