Managing the Fiscal Challenges

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.

Challenging budget season underway

The traditional Three Board Meeting held in mid-January began the focus on the budget for Fiscal Year 2025 (FY25 runs from July 1, 2024 through June 30, 2025.) At this meeting the Boards of Selectmen and Education presented their projected operating budgets, infrastructure and capital needs to the Board of Finance.

Town well positioned for tomorrow

The Town of Granby closed the books on the fiscal year—FY23—that ended on June 30 in a strong financial position, as anticipated.

Preparing to address the next capital need

In the last Drummer issue, an article about the budget public hearing erred in saying that the money that the boards view as reserved for the upcoming communications project was included in the recently-approved FY24 budget. It is not in the budget.

The General Fund—Fiscal Workhorse

Granby’s General Fund often shares the focus of the yearly budget process. While the operating budget itself can be viewed as similar to an income and expense statement as in business, the general fund is the checkbook through which all that budget activity runs and, in the end, is the repository for all of those monies coming in and going out—not just for the year but over the years since inception.

Finance Constrains Spending, Mill Rate Change

At its Feb. 15 meeting, the Board of Finance reviewed updated information relative to the budget for FY24 that begins on July 1. The total Grand List—subject to any final adjustments by the Board of Assessment Appeals—was filed as required with the state by Jan. 31, and showed an increase with revaluation of 28.34 percent over the Oct. 1, 2021, Grand List.

Taking the mystery out of revaluation

(REPRINT) The revaluation of property values is done every five years per state law. The “reval” being done effective for the Oct. 1, 2022 Grand List will affect tax bills issued for next fiscal year—July 2023.

Taking the mystery out of revaluation

The revaluation of property values is done every five years per state law. The “reval” being done effective for the Oct. 1, 2022 Grand List will affect tax bills issued for next fiscal year—July 2023.