Wilton First Selectwoman Submits FY2024 Budget To Board Of Selectman

Press release from the Town of Wilton:

February 7, 2023 - 5:50pm

The First Selectwoman’s recommended FY2024 Budget was submitted to the Board of Selectmen at last night’s meeting. The budget reflects the cumulative efforts of the various town departments to provide the quality of services residents expect at the lowest cost possible.

The budget request of $34,673,595, which is a 2.15% increase over the current year’s budget and an 8-year average annual increase of .86%, includes

• the addition of one new police officer to focus on traffic, as requested by residents,
• a continued focus on grants as a means of reducing the amount that would otherwise be paid by taxpayers,
• additional engineering resources to expand our current capacity and allow us to continue to seek and execute against new future competitive grant awards, and
• continued strengthening of the Town’s balance sheet.

With the budget, the Town’s defined benefit retirement plan is funded at 109%.

Competitive grants awarded since 2019 totaling $26 million resulted in avoidance of approximately $1.8 million in debt service in FY2024.

A budget overview and the detailed budget by department is available here. This and all future FY2024 budget documents are posted on the Annual Budget and Annual Town Meeting page on the town’s website located here.

An overview of the budget process is available here.

The next budget meeting is Thursday, February 15th at 7:00 p.m. in Room 31 at Comstock. Residents may attend in person or via Zoom.

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