NEW CANAAN, Conn. First Selectman Robert Mallozzi III is confident the first budget completed under his administration will keep spending in line with his set goal.
The Board of Finance completed its deliberations Tuesday on the 2012-13 proposed budget. The $125.7 million proposed plan is about 3.4 percent over the current fiscal year. Currently, the town would have to raise more than $117 million in taxes, which is 2.9 percent more than the current town spending plan of $113.7 million.
But Mallozzi expects the proposal should fall in line with his pledge to increase spending by no more than 2.5 percent once surplus funds from this years budget are included. The Town Council will now review the proposal.
Well be able to achieve what we wanted to do, Mallozzi said Wednesday. We should meet the 2.5 percent goal.
Among the major changes the finance board accepted was adding $682,000 for the town employees pension fund as well as a $575,000 reduction in capital spending for the Board of Education. The schools capital projects budget is now at $495,000.
Mallozzi said hes happy the proposed budget will slow the rate of growth without having to lay off employees or cut services. Its a good effort. We all worked hard to get to this number, he said. Its a good sign of collaborative government.
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