Last night’s annual Town Meeting to vote on the Town budget was quick and smooth. There was very little discussion on the 23 articles, no amendments were proposed, and all that came up for a vote passed handily.
The night’s voting including passage of Article 8 to bond $960,000 for a variety of capital improvement projects (Road Construction ($400,000), Town Hall repairs/Upgrades (approx. $110,000), Road match for State RT 236 project (approx. $133,000), Young Street property stabilization/protection (approx. $200,000), Public Safety Communications Repeater (approx $30,000) and Maine Municipal Bond Bank Reserve/Replacement Fund (approx $87,000)). The annual bond payment will not exceed $59,000 and will replace a bond payment that is retiring this year.
The approved budget for Fiscal Year 2011 results in a zero increase in the Town portion of the tax rate. This was achieved by adding $146,000 from the Undesignated Fund Balance to revenues, with approximately half of that to offset cuts in State support. The budget that voters approved fell $147,404 below the property tax levy limit imposed by LD1. The projected Municipal Tax Rate is $4.92 (does not include County and SAD 35 portion.)
