New Canaan Board of Finance approves proposed 2025–26 budget; forwards recommendations to selectmen

The New Canaan Board of Finance approved the town’s proposed fiscal year 2025–26 operating and capital budgets and forwarded its appropriation recommendations to the selectmen for submission to the Town Council.

The board voted, by recorded motions, to approve the town budget totals presented during the meeting, including a town operating budget figure listed as $43,789,548; the Board of Education operating and health insurance transfer budget of $113,947,271; Board of Education expenses paid by the town of $376,487; a tax-funded capital budget of $472,500; and a debt service budget of $18,385,172. The Board of Finance also approved a general fund non-tax revenue total of $11,206,288, a proposed fund balance contribution of $5,000,000, and a proposed amount to be raised by taxation of $164,949,190. The board approved a proposed property tax collection rate of 98.5% and several other fund budgets, including a sewer fund expense budget of $2,125,289 and various other fund revenues and expenses as presented. The board approved…