Norwalk BET approves FY27 operating budget after debate, cuts BOE increase to 4%

Norwalk's Board of Estimate and Taxation on Tuesday evening approved a revised FY27 operating budget after a three-hour virtual meeting that featured a detailed presentation on pension assumptions and a close, 4-3 vote to reduce the Board of Education's proposed increase.

Mayor Smith opened the meeting by thanking department chiefs and budget staff for their work and said the revised plan balances rising health-care costs, six recently negotiated union contracts and the property revaluation. “We have done everything we can to reduce spending and make the most of every penny in this budget without risking public safety or cutting back on services for our residents,” Mayor Smith said.

Jared, the city's budget staffer leading the presentation, told the board the city's new actuary recommended raising the pension discount rate to 6.75% (from 6.5%) and extending the amortization schedule for police and fire liabilities…