New London Finance Board approves boost to education budget
New London — The city’s Finance Board offered a boost to the education budget on Tuesday, approving a $600,000 increase over the City Council’s proposal.
The board voted 3-2 to increase the $42.93 million proposed school budget to $43.53 million. Board members Donald Macrino, Lonnie Braxton and Stephanie Brown voted in favor. Members Jerome Fischer and Walter Williams voted against.
The proposed $49.86 million general government budget remained unchanged.
The finance board’s proposed budget would increase school funding from the city from about $488,000 to $1.09 million.
The school board in March approved a $69.9 million overall education budget, a 4.6 percent increase over the current year, that would require $45.5 million from the city’s general fund. The school district is expected to receive $26.3 million in the form of Educational Cost Sharing and Alliance grant funds this year.
The immediate impact on the tax rate under the revised spending plan was not immediately clear. Finance Director Don Gray said he was performing calculations to present to the City Council on Monday.
The council is scheduled to vote on the second of three readings of the budget Monday and could act to revise the finance board’s budget figures. The council cannot, however, increase the proposed spending plan without the approval of the Appropriating Board, which is composed of members of the council and Finance Board.
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