Waterford RTM approves proposed budget
Waterford – The Representative Town Meeting approved a general fund budget of $86.3 million for the 2015-16 fiscal year by a vote of 10-2 Monday. The budget shows a decrease of 0.7 percent compared to the current budget.
Town officials credited the modest decrease to a $1.9 million state grant to cover 80 percent of the cost of replacing the bridge over Jordan Cove, located near Pleasure Beach. The grant showed as a reduction to the capital and debt service budget.
First Selectman Daniel Steward said after the meeting that he had not seen a decrease to the budget in at least 10 years.
“It's significant,” he said.
The RTM approved the Board of Education budget of $45.4 million by a vote of 7-3 with two abstaining, general government budget of $31.3 million by a vote of 10-2, and capital and debt service budget at $9.6 million.
Finance Director Maryanna Stevens said the Board of Finance is slated to set the new tax rate May 20, when the board is expected to review revenues.
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