Jan. 1 marks the halfway point in the FY25 budget. It’s time to look back at our projections and look forward to the end of the budget year. It is also time to present the Plus One FY26 Budget Forecast to project into the following year. The board of selectman considers the Plus One Budget Forecast in December and approves it in January. It then goes on to the board of finance. Finance Director Kimi Cheng analyzed, compiled, and digested data that indicates the underlying financial metrics of the town continue to be strong.
Some of the large budget drivers include two position eliminations saving $205,000, contractually negotiated 3 percent raises for employees costing $200,000, the switch from a PPO medical network to an HDHP saving $124,000, and one new police officer to add night shift support costing $150,000. While the inflation rate is at 3 percent, the town contemplates spending about 2.4 percent in FY26.
There is a tremendous amount of work that still needs to be done on the FY26 budget by town staff and your elected officials including the three boards meeting in January and budget workshops beginning in March. More discussions will be held before your budget vote in April.
My commitment to you as your town manager is to deliver a greater level of transparency so that you have a working knowledge of how your tax dollars translate into the service level you have come to expect and enjoy here in the Town of Granby. Please contact me at 860-844-5302 or at MWalsh@Granby-ct.gov with any questions.