Following the hearing, the board voted unanimously to adopt the document as the Town’s Final Budget for 2013.
The total revenue for 2012 is projected to be $5,582,906, an increase of $218,323 over last year’s budget.
The General Fund allocation for 2013 is $7,928,622. That amount is up from $6,682,906 in 2012 for an increase of $1,245,716.
Offsetting those allocations are estimated revenues of $3,904,005. Those revenues are up from $2,870,859 in 2012. Also offsetting is $1,310,500 in unexpended balance from 2012, which is being applied.
That amount is being increased by $210,500 from 2012.
That makes the General Fund amount to be raised by taxes $2,714,117 in 2013.
Total Highway Allocations are $915,452 before applying estimated revenues of $225,700 and unexpended balance of $80,000.
That makes the Highway amount raised by taxes $607,752.
The total amount to be raised by taxes is $3,323,869 for both General and Highway. Continue reading