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Budget committee presents CIP, flags new fire station bond as main driver of tax increase
Summary
Budget Committee Chair Rick Lesser presented the FY26 CIP recommending use of capital reserve funds where possible and said the new fire station bond accounts for most of the proposed $999,995 increase to be raised by taxation; staff said revaluation could reduce the tax-rate increase.
Budget Committee Chair Rick Lesser presented the FY26 Capital Improvement Program to the Select Board and Budget Committee at a joint session on Jan. 7, saying the CIP Committee unanimously approved the FY26 schedule and that department heads worked to minimize FY26 costs. He said the committee favored utilizing capital reserve funds rather than bonding when feasible.
Chair Lesser described the new fire-station construction bond as the largest CIP expenditure and said $950,591 of the proposed $999,995 increase to be raised through taxation is attributable to that bond. He also said the ambulance revolving fund is expected to generate revenue again in FY26 after a suspension in the prior year.
Committee members discussed delaying some FY26 warrant-article requests to smooth the tax impact over several years. Leslie Lewis and Carl Mabbs-Zeno expressed concern that removing warrant-article requests constitutes a policy change and could defer needed work; other committee members said delaying certain noncritical items would not endanger operations and could reduce immediate tax pressure.
Members reviewed multiple CRFs, including planned purchases for the Police Department (new cruiser), DPW fleet items and bridge work. Ms. Lewis questioned why an EV cruiser purchase had been made in FY25 and referred to it as a "vanity" purchase; Select Board members Bill Kennedy and Bill Taylor said the EV would be cheaper to outfit and would yield long-term savings.
Chair Lesser reviewed TIF district plans, noting the Old Sharon Road Bridge over the Contoocook River is scheduled for renovation in FY26 and that the Greater Downtown TIF will fund paving on Grove and Main Streets along with safety improvements at the Depot/Main/Summer intersection.
Finance staff said the draft operating budget drivers include higher health-insurance and workers-compensation costs and that, without revaluation and using no fund balance, the projected tax-rate increase would be $1.90; including no change to assessed values but adding WPTIF changes would yield a $1.32 increase. Staff estimated the revaluation could increase assessed values by roughly 30%, which would reduce the tax-rate increase.
The joint meeting adjourned at 6:41 PM.
