Here are the key factors in the proposed 2012-13 fiscal year operating budget released Monday by Town Manager Michael Milone:
- Total requested budget: $99.7 million
- Dollar increase: $2.04 million
- Percent of increase: 2.09%
- Average increased taxes: $1,625 (with house/2 cars)
- Mill rate: 27.6 from 26.85
A major cost-saving factor in the proposed budget is the decrease in debt service payments. Milone said debt service costs will decrease by more than $608,000. That’s a six percent drop from last year and a whopping 13 percent decrease since 2002.
“It’s important because we’ve worked hard to get our debt service down. It’s a major cost and as it goes down, there’s more money for discretionary costs,” Milone said. At one point, Cheshire had one of the highest debt service payments per capita in the state.
Milone noted the budget includes a subsidy on $359,000 for the “That remains constant, the same as the last couple years,” he said.
The pool will have a revenue shortfall of $100,000 this year, Milone said, caused by the pool’s closure after the bubble collapsed in January 2011. “It’s not through mismanagement. It’s the reality of having the facility closed for four months,” he said.
Funds from an expected budget surplus would be used to balance the pool account, Milone said.
will be held tonight at the Town Council meeting at 7:30 p.m. at . The council will also set a date for a public hearing on the spending plan.