Granby Drummer (https://granbydrummer.com/author/michael-b-guarco-jr/)
Board of finance members often hear, “why does the mill rate seem to always go up while in most years rates don’t change for federal and state income taxes? From the revenue perspective, this reflects that the income base to which state and federal tax rates apply generally increases annually as income levels and taxable population steadily rise.
The onset of summer brings a diminished pace of outwardly visible activity for Town Hall and the school system’s Central Office. It also heightens the work for the fiscal staff, as they look to close the books on FY25 and open them for FY26 that began on July 1. In particular, it is a snapshot of Granby’s finances on June 30, the close of the fiscal year.
Like any household or business, the Town of Granby has its share of physical assets to protect and maintain. Whether it’s buildings at the Town Hall complex, plow trucks, schools or Salmon Brook Park, there are millions of dollars’ worth of physical plant, rolling stock and infrastructure that we as a town have the responsibility and obligation to manage and maintain.
With winter winding down and spring upon us, the budget process is in full swing for fiscal year 2026 (July 1, 2025 through June 30, 2026). An important aspect of the budget process is the General Fund—and how it does and does not work. We will look at the current 2025 fiscal year, at the budget for FY26, and we will consider the near-term years beyond.
The Board of Finance set operating budget guidelines of 3.25 percent for the Board of Education and 2.4 percent for the Board of Selectmen at its Feb. 10 meeting, with the goal of keeping the mill rate change for FY26 in the 3 percent range.
As prescribed by charter, the January Three Board meeting brought together the boards of finance, education and selectmen to take a collective look at what Fiscal Year FY26 may look like.
Every time election season rolls around, we are inundated with hyperbole about what the national and state candidates will do for the citizenry, with the unspoken part being what it will cost us, as if it comes without a price tag.
As summer winds down and autumn approaches, the board of finance shifts its focus from the close-out of the FY24 budget to monitoring the current FY25 budget and developing FY26, which runs from July 1, 2025 through June 30, 2026.
A primary focus of the Granby Board of Finance is to protect and strengthen, where reasonable, the town’s short and long-term financial position.
s anticipated, the Board of Finance set operating budget guidelines that reflect both the challenges faced by the Board of Selectmen and the Board of Education as well as the impact of inflation and scarcity in today’s post-pandemic environment.