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Caribou opens public hearing on 2025 municipal budget with $1.2M shortfall; final vote set for next week
Summary
City Manager Penny Thompson opened a public hearing on the 2025 municipal expense, capital and revenue budgets, citing a projected $1,207,214 shortfall that could translate to roughly a 2.5-mill property tax increase; the council will vote on a final budget at its next meeting.
City Manager Penny Thompson opened a public hearing March 10 on Caribou’s 2025 municipal budgets, telling the council the initial numbers show a projected shortfall of about $1,207,214 that would need to be raised through property taxes.
Thompson said, “The general fund expense budget is $12,514,121.” She told the council the recommended capital budget used for illustration was $1,092,797 and the general fund revenue (income) budget was $11,523,007.60, excluding enterprise funds. Thompson said lapsed…
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