Lincoln Town Council approves $1M loan and new tax assessment for 2025

In the heart of Lincoln, Rhode Island, the Budget Board convened on April 7, 2025, to address crucial financial resolutions that will shape the town's fiscal landscape for the upcoming year. As the clock ticked toward 7 PM, board members gathered to deliberate on a series of appropriations and tax measures that will impact local residents and schools.

The meeting opened with a resolution to approve the appropriations voted on by taxpayers during the financial town meeting in May. This resolution emphasized that the gross amounts would include any unexpected balances from the previous fiscal year, alongside receipts from various department operations and state and federal agencies. Notably, all school receipts will be allocated to a separate account, ensuring compliance with state law to fund school operations. The town plans to support the school department through local property taxes and other municipal revenues, a move aimed at maintaining educational standards.

As discussions progressed, board member Bruce made a motion to approve the first resolution, which was seconded by Mike. The board swiftly moved through the voting process, with all members in favor, reflecting a consensus on the importance of funding education adequately.

Resolution two, described as a favorite for its brevity, was also passed without opposition. This resolution allows for the automatic adoption of appropriations if no objections are raised during the meeting, streamlining the budget approval process.

The board then turned its attention to a more significant financial matter: authorizing the town treasurer to borrow up to $1 million in anticipation of taxes for the upcoming fiscal year. This resolution, also motioned by Bruce and seconded by Mike, was approved unanimously, indicating the board's confidence in managing the town's financial obligations.

A more complex resolution regarding tax assessments was introduced next. This proposal outlined a tax range between $59 million and $62 million, aimed at covering ordinary expenses and charges. The tax assessor will be responsible for evaluating properties and ensuring that the tax is collected efficiently. The resolution included provisions for installment payments, allowing residents to pay their taxes in manageable portions throughout the year.

As the meeting drew to a close, the board's discussions highlighted a commitment to fiscal responsibility and transparency. The resolutions passed not only reflect the town's immediate financial needs but also set the stage for future planning and community support. With the budget now on track, residents can look forward to a structured approach to funding essential services and education in Lincoln.