East Greenwich Town Council is gearing up for the fiscal year 2025-2026 budget planning, as discussed in their recent meeting on December 9, 2024. Town Manager Andrew Nada presented preliminary insights into the current town and school budgets, emphasizing that this early stage is primarily a check-in rather than a comprehensive review.

The budget process, which began in October, is set to conclude with the final adoption by June 10. The council is currently assessing revenue projections and expenditures, with an estimated surplus of approximately $375,000 for the town side, although these figures are subject to change as the fiscal year progresses. The council noted that the anticipated revenue from tax payments is projected at about $1.1 million, with various departmental revenues contributing to the overall financial picture.

A significant point of discussion was the 4% tax levy limit, which has raised concerns among council members. There are divergent opinions across the state regarding potential legislative changes to this cap, with some advocating for flexibility to better manage inflationary pressures. The council acknowledged the need for a united community response to any proposed changes that could impact local funding, particularly for education.

The meeting also highlighted the importance of upcoming negotiations for five town contracts, which are expected to influence budgetary impacts due to rising personnel and staffing costs. The council is preparing for these discussions, aiming for consistency across different bargaining units.

In addition, the council reviewed the status of post-employment benefits (OPEB), noting a significant reduction in liabilities due to strategic changes in how these liabilities are managed. This reduction is crucial for maintaining the town's fiscal health and bond rating.

As the budget planning process unfolds, the council is committed to keeping the community informed and engaged, recognizing the importance of local participation in discussions that will shape the town's financial future. The next major update is expected in February, when more detailed projections and discussions will take place.