NEW CANAAN, Conn. The Board of Finance has officially sent the proposed 2012-13 fiscal year budget on to the next step with just a minor change.
The Board of Finance officially voted Tuesday to approve a proposed $125.6 million spending plan, which must now goes to the Town Council for its consideration and eventual approval. The plan is about 3 percent more than the current fiscal years spending.
The only change made after the finance boards discussions last week was the removal of $150,000 in capital funds for the New Canaan Public Schools. Town officials plan to use leftover funds from work at New Canaan High Schools Dunning Field to pave the parking lot at South Elementary School.
Last week, the finance board added $682,000 for the town employees pension fund and removed about $575,000 in capital spending for the Board of Education.
First Selectman Robert Mallozzi said the final budget should increase spending by no more than 2.5 percent, a goal he set when he took office last November.
The board was also approved a sewer taxing district budget of $1.31 million and a property tax collection rate of 98 percent.
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