FY2027 Budget

Background

Around early spring each year, the Town Manager proposes the budget for the fiscal year ahead. The FY2027 budget will be presented to the Town Council during the council meeting on Wednesday, April 1st. The focus of this year's budget is to maintain the level of quality services that our community expects while showing restraint on investments in anticipation of the upcoming school building project. 

The Town Council has a Financial, Affordability, & Capital Planning goal this year to "Work towards a 0% mil rate for the FY27 Budget to show restraint in advance of the school bond" (view all 2026 Council Goals). Finance Committee Chair Larry Cain states in his March 1 Council Corner article that "this is an aspirational goal to control spending, with a recognition of the upcoming tax impacts from the school projects and other Town needs. I am in favor of this goal, but I do acknowledge the realities and cost pressures that every town faces. There are certainly built in challenges that are not in our control; like inflation, contractual increases for Town employees, State mandates for increased school staffing and higher County tax obligations."

Budget Adoption

On Wednesday, May 20 the Town Council adopted the final municipal budget, equating to an approximately 3.2% tax rate increase. On a $600,000 home, this equates to an additional $216. (The actual mill rate will be determined in August).

The budget as first presented on April 1 was a 5.97% increase and was reduced after multiple community forums and finance committee meetings. The Council approved an approximately $1.3 million reduction in the municipal budget (deferred hiring of some positions) and $1.2 million reduction in the school budget from the original proposed budget. More significant reductions were contemplated for the school budget, but were restored due to public feedback and to minimize the impacts of school program cuts. The budget is largely focused on funding existing services with minimal new investments (a few factors led to its increase—less state aid revenue, a higher county budget, higher fuel/utility costs). The school budget is adopted through a referendum election.

Have a question about the 2027 municipal budget? Submit a question or comment about the upcoming budget year.

FY2027 Budget Review Timeline

The following meeting dates comprise the 2027 Budget Review Timeline. For additional information and meeting links, please see the Town Budget Calendar.