Town Of Waterford: Town Budget Approved For FY23

Press release from the Town of Waterford:

May 27, 2022

Translate Board of Finance sets mill rate

The FY23 mill rate was recently set by the Board of Finance at 27.56 which shows a .08 decrease over FY22 and continues the trend of a stable mill rate.

The RTM recently approved a FY23 budget of $99,381,223. This adopted FY23 budget represents a total increase of 2.45%. This increase includes a 2.89% increase in the Board of Education budget that is largely contributed to contractual obligations in salary and benefits.

The Town's Capital Budget increased by $319,600 or 8.27%. Debt Service has a 9.29% decrease due to the refunding of older school bonds. General Government is increased by $1,329,419 or 3.85% for contractual and personnel obligations.

This past year, our town, our state and our country has faced uncertain times. I would like to thank all the Department Heads, Staff, Commissions, Board of Selectmen, Board of Finance and RTM for your thoughtful budget process and support.

~Rob Brule, First Selectman

This press release was produced by the Town of Waterford.The views expressed here are the author’s own.