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Simsbury Board of Finance approves budget guidance aiming to limit next tax increase
Summary
The Board of Finance approved budget guidance asking staff to model scenarios that hold a long-term tax-increase target near 2% while using reserves and a $1 million health-savings allocation to reduce near-term pressure; staff will return with detailed scenarios and assumptions.
The Simsbury Board of Finance voted unanimously to approve budget guidance that asks staff to model scenarios aimed at limiting the town's projected tax increase while managing capital and debt-service timing.Speaker 3 moved to approve the guidance and, after a second, "All in favor, please say aye," the chair said; the motion carried unanimously.
Why it matters: the guidance frames key decisions the town and the board of education must use while preparing FY27 budgets, including how to use reserves, how to apply one-time health savings and how to smooth a forecasted debt-service spike in the early 2030s.
The board reviewed detailed capital-financing modeling during the meeting. "For fiscal year 27, it's anticipated to be 9,000,064," Speaker 1 said when displaying the debt-service line, underscoring why members want to use reserves and timing to avoid a steep mill-rate increase. Members discussed a…
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