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Thursday, November 20, 2008
 
Lincoln to decide $71M budget E-mail
Saturday, 10 May 2008

By JON BAKER

LINCOLN — In a Friday morning meeting, Town Administrator T. Joseph Almond admitted he didn’t have a clue as to what might happen at tomorrow night’s annual Financial Town Meeting.
He knows what he wants to occur, but will it?

First, he’s urged residents to attend the meeting, slated for 7:30 p.m. inside the high school auditorium, and to exert their power to control local property taxes and help make government services more efficient.
And, second, to make things easier on all involved, he’s asking those residents to support the budget board’s proposed combined budget of $71.3 million for fiscal year 2008-09. It includes $16.9 million in municipal spending and $48.3 on the schools side.
The municipal number offers an increase of $708,735 (or 4.37 percent) over the current amount, while the school budget proposes an increase of about $1.125 million (2.38 percent) beyond the ‘07-08 number.
The proposed budget represents a 2.72 increase over the previous year, and is well below the five-percent limit placed upon the local property tax levy by the state. Almond cautioned voters that “while a five-percent increase in the local property tax levy is permitted under the state’s Tax-Cap Bill S3050, taxpayers simply cannot afford it.
“The administration worked diligently with the budget board to make difficult choices in recommending a fiscally-responsible budget that would protect local property taxpayers,” he noted.
“If voters at the Financial Town Meeting approve the proposed 2008-09 budget, it would result in a nominal charge of 10 cents in the residential tax rate — from $16.72 to $16.82. All residential homeowners would continue to receive an additional 35 percent (in the) Homestead Exemption.
“If voters at the (meeting) elect to increase spending above the recommended budget, it would cause a direct increase to local property taxes,” he added. “Until we understand the extent of the fiscal crisis gripping the region, and gain control of the spiraling and unsustainable cost of pension and health care benefits, it would be irresponsible to increase spending.
“Although the town of Lincoln remains in excellent fiscal health, the statewide economic downturn is expected to last well into the next fiscal year. We must budget responsibly now in preparation for an even more challenging 2009 fiscal year.
“It will be extremely important this year to protect our AA bond rating, maintain a responsible accumulated surplus and continue to to promote economic growth if we are to preserve our long-term fiscal health.”

Last Updated ( Sunday, 11 May 2008 )
 
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