Ridgefield Board of Finance Backs Lower School Budget Increase, Finalizes Capital and Town Spending

RIDGEFIELD, CT — The Board of Finance on March 31 finalized key components of the town’s fiscal year 2027 budget, approving municipal spending plans and voting to recommend a reduced increase for the Board of Education budget compared with the school board’s proposal.

The meeting focused on completing budget decisions ahead of referendum preparations, with members voting on surplus use, capital spending and operating budgets.

Surplus to Offset Taxes

The board voted to apply approximately $1.45 million in anticipated fiscal year 2026 surplus toward the upcoming budget, continuing its practice of using excess funds to reduce the tax burden.

Related: Ridgefield Finance Board Sets Revenue Assumptions, Defers Budget Votes

Members said the approach would maintain the town’s fund balance within its target range of roughly 11 to 12 percent.

“It has been our general intent and our general practice to use whatever surplus we have … to the taxpayers in the following year,” BOF member Dave Ulmer said.

Board members emphasized that the fund balance also serves as a financial safeguard and should not be routinely used to offset tax increases beyond available surplus.

Capital Budget Approved

The board approved a $15.9 million gross capital budget, which is expected to be reduced to about $10.4 million after grants and other offsets.

The plan includes infrastructure, equipment and facility projects for both the town and schools. Members removed a $60,000 planning item after consultation with the Planning & Zoning Commission chair, who indicated it was not needed this year.

Officials noted the capital plan is higher than in recent years, in part due to deferred public safety facility work following failed proposals for a new police and fire complex.

Town Operating Budget Moves Forward

The board approved the town’s operating and debt service budget, totaling about $55.1 million, along with a separate $2.25 million allocation for roads and Americans with Disabilties Act improvements.

See Also: Ridgefield Public Safety Facilities Panel Advances Planning, Weighs Costs And Timeline

Members described the municipal budget as consistent with prior guidance and largely driven by fixed obligations, particularly debt service.

“The debt service … is completely baked into obligations this town already has,” member Joe Shapiro said.

School Budget Debate Centers on Growth Rate

The most extensive discussion focused on the Board of Education’s proposed $125.3 million budget, which represents a 4.62 percent increase.

Finance board members said they support the school system but raised concerns about the pace of spending growth and its impact on taxpayers.

Related: Ridgefield School Board Proposes $125.3M FY27 Budget, 4.62% Increase

“We need to reduce the rate of increase,” Chair Mike Rettger said, noting that no proposal involved cutting spending below current levels.

Several members cited earlier guidance the Finance Board had supplied the Board of Ed requesting increases closer to 3 percent, while acknowledging that special education costs are rising faster than other parts of the budget.

Discussion centered on balancing those pressures with long-term financial sustainability and mill rate impacts. Members also pointed to slower growth in local household income compared with peer communities and the burden on taxpayers funding school operations.

Finance Board member Andrew Okrongly said that "the budget that was proposed by the Board of Education — if it didn't fail at a referendum — would have at least had a heightened risk of material skepticism and pushback from the community that I worry would lead to pressures on and kind of negative sentiment towards school funding down the road."

Board Recommends 3.35 Percent Increase

The board ultimately voted to recommend a $123.8 million Board of Education budget, representing a 3.35 percent increase over the current year.

Related: Ridgefield Finance Board Questions School Budget, Cites Taxpayer Concerns

The recommendation is lower than the school board’s request and is expected to translate to an estimated 3.52 percent mill rate increase, based on current assumptions.

Some members argued for a slightly higher range to account for special education cost pressures, while others said adhering closely to prior guidance was important to maintaining fiscal discipline.

“I think it’s too low,” member Greg Kabasakalian said during debate, while others supported the figure as a necessary step to slow spending growth.

Next Steps

The Board of Finance will meet again in early April to finalize referendum language and bonding resolutions before sending the budget to voters.

The proposed spending plan, including separate questions for municipal and education budgets, is expected to go to referendum later this spring.