In a recent government meeting, officials addressed ongoing budget challenges that have persisted for several years, highlighting the need for potential cuts or increased revenue. The finance director noted that while revenues have shown slow improvement, they have not kept pace with rising expenditures, leading to concerns about future financial sustainability.
The last significant budget cuts occurred in 2018, which included painful reductions to various departments, including parks. Although these cuts helped stabilize the budget temporarily, officials warned that without proactive measures, the town could face a financial crisis within the next three to four years. Current reserves are sufficient for the short term, but the council is considering options to address the looming budget shortfall.
In 2020, a last-minute ballot measure aimed at increasing revenue was rejected, and subsequent federal funding through the American Rescue Plan Act (ARPA) has provided temporary relief, allowing the town to avoid immediate cuts. However, officials emphasized the importance of early action in identifying necessary budget adjustments, as savings can compound over time.
To better understand public sentiment regarding financial priorities and potential revenue measures, the town contracted FM3 to conduct research. The results of this survey were presented by Dr. Richard Bernard during the meeting. It was clarified that while the council cannot directly adopt a tax, they may eventually place a measure on the ballot for voters to decide on enhancing town revenues to maintain current services and standards.
As discussions continue, the council is tasked with navigating the delicate balance between fiscal responsibility and community needs, with the future of the town's budget hanging in the balance.