Board of Finance Moves Budget to Public Hearing

After meticulously going over the board of education's proposed 2011-2012 budget and then the board of selectmen's, the board of finance unanimously voted to move the combined budget to a public hearing on April 5.

The two boards presented their budgets to the board of finance Tuesday night. The proposed 2011-2012 budget that will got to public hearing is for $87,273,844, or a 1.2 percent increase over the current year budget of $86,238,311. The 1.2 percent increase is $1,035,533 in dollars.

The current mill rate is 30.55; if the proposed budget passes the mill rate would rise to 30.95. One mill produces $1 for each $1,000 of property valuation. Example: a house with a valuation of $250,000 (valuation is 70 percent of its estimated market value) then the tax is calculated as follows $250,000/$1,000 x 30.95 mills = $7,738.

The board of finance had given budget guidelines of a 1 percent decrease in spending, no increase or 1 percent increase to the town and the board of education. The $87,273,844 number breaks down as follows.

The board of education approved its proposed 2011-2012 budget of $62,797,320 March 8. That's an increase of $954,991 or 1.54 percent over the current budget.

The education board also approved the proposed $524,208 2011-2012 non-public school budget, which represents and increase of $4,584 or 0.88 percent.

For more information go to the board of education's website budget page or click here.

The board of selectmen approved its proposed 2011-2012 $17,860,913 budget on February 28. That number represents an increase of 0.21 percent or $36,961 above the current budget.

For more information go to the Town of Simsbury's website budget page or click here.

The rest of the budget is debt service, or the amount the town owes on past capital projects.

The finance board will hold its public hearing on the proposed budget on April 5 at 7:30 p.m. in the high school auditorium. The annual town meeting will be May 3 and the referendum on May 17.