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Water and sewer funds show tight reserves; trustees weigh 30'40'per-thousand rate increases
Summary
Town budget staff presented water and sewer drafts showing reduced reserves, rising debt-service and operating costs, and asked trustees to consider rate increases to stabilize the funds.
Town budget staff presented the water and sewer budgets and several possible paths to shore up reserves at the Oct. 14 workshop.
Water presentation highlights: staff reported a proposed water tax rate of 2.5339 per $1,000 of land value (a 17.6% decrease from the prior-year rate that staff tied to debt-service changes), a levy near $1.5 million (presented as an 11.5% increase), and a projected water fund balance of roughly $429,000 (about 8% of appropriations) after appropriating $1,018,000 of fund balance for 2026. Staff said average delinquent collections arrive in February and that the current projected fund balance would not leave a comfortable cash cushion for typical…
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