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05/22/2017 03:22 PMBranford could be impacted with an additional $2 million in extra state cuts and costs next year, bringing Branford's 2017-18 impact from state cuts and costs to well over $5 million in losses.
The latest impact arrives with Gov. Dannel P. Malloy's additional proposals to cut municipal aid last week. The newly proposed cuts are due to the state's adjustment in aniticipated tax revenues. The 2017-18 gap, first estimated at $1.7 billion gap statewide, has now been adjusted up to $2.3 billion.
As Branford works to factor in the newly proposed cuts, the town's Board of Finance (BOF) is pushing off the date to set next year's mill rate until a special meeting set for Tuesday, May 30.
The BOF was originally set to vote on the new mill rate tonight, May 22. Instead, at tonight's meeting, the agenda calls for the BOF to discuss what the impacts of the governor's additional proposed cuts and costs would mean to Branford. The BOF has set a special meeting date of Tuesday, May 30, to hear an overview of the budget from Finance Director Jim Finch, followed by setting the mill rate for fiscal year 2017-18.
On May 9, Branford's Representative Town Meeting (RTM) voted 22-6 to approve a $111.8 million 201718 budget, with annual tax increase touching over five percent, to the BOF.
The $111.8 million budget carries a mill rate of 28.87 mills. The BOF has the ability to raise the mill rate above the proposed number to make up for anticipated revenue needs.