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.
Comment threads are monitored for 48 hours after publication and then closed.