Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Operating Budget topic
No spam. Unsubscribe anytime.
Budget committee reviews $35.94 million 2025 all-funds budget; town-only tax rate estimate $7.65
Summary
At its Jan. 14 public hearing the Wolfeboro Budget Committee reviewed a proposed all-funds 2025 budget of $35,943,677 and a town-only estimated tax rate of $7.65 (up from $6.73 in 2024). Presenters explained enterprise funds are intended to be supported by user fees and that the general fund — $20,570,784 — drives the tax rate.
The Wolfeboro Budget Committee on Jan. 14 reviewed the town’s proposed 2025 all-funds operating budget and the estimated effect on the town portion of the tax rate.
Sean McDonald, chairman of this year’s Wolfeboro Budget Committee, summarized the proposed all-funds total at $35,943,677; that figure followed a Board of Selectmen proposed recommendation and subsequent committee review. The committee was shown a town-only general fund figure of $20,570,784 — an increase of $1,808,397, or 9.64% — which is the portion used to calculate the town’s tax rate.
Jim, the town manager, explained enterprise funds (water, electric, sewer and the Parks/Whalen enterprise) are typically supported by user fees and not general taxation. “As enterprise funds, their user fees are supposed to be paying for their operational costs for their budget,” Jim said, adding the town is reviewing water and sewer rate schedules in upcoming meetings to align revenues with projected costs.
The presentation listed fund-level totals and percent changes: electric fund $11,204,722 (about a 5% increase), water $1,883,417 (about 14.7% increase), sewer $1,000,849 (about 1.7% increase) and Parks/Whalen $435,114 (about 6.6% increase). The slides also attributed several general-fund increases to debt service tied to recent capital projects, mandated retirement costs, and insurance and ambulance cost changes.
The packet presented an estimated town-only tax rate of $7.65 per $1,000 assessed valuation if all warrant articles pass; the town-only 2024 tax rate was $6.73. The presentation translated that estimated change into sample taxpayer impacts (for example, approximately $276 more annually on a $300,000 home if all articles pass, per the slides) and noted the estimate excludes school district and county tax components.
Presenters and committee members answered questions about default budgets, mandated costs and fund accounting. The Board of Selectmen recommended the operating budget by a 5–0 vote on the slides shown; the Budget Committee did not vote on the operating budget during the Jan. 14 hearing and will deliberate at a later session.
The committee scheduled continuation of the public hearing to Jan. 16 at 7 p.m. and has the deliberative session and town meeting on the town calendar this winter.
