May 14, 2009

Dear Fellow Eastonite:

You may have seen in the media that the Town of Easton's budget for fiscal year 2009/2010 beginning July 1 was overwhelmingly passed at referendum last Tuesday by slightly more than a 2:1 margin. Many thanks to all of you who came out and expressed your opinion. Unfortunately, only about 25% of eligible voters went to the polls last Tuesday down from the 34% who voted at the first referendum on May 5 when the proposed budget was very narrowly defeated both by those who favored an even lower budget as well as by those seeking additional funds for education.

You may also have read that the Town has recently been awarded an "Aaa Credit Rating" by Standard & Poor's which is expected to reduce town interest payments by $187,000 during the next fiscal year alone. Only about twelve of the 169 towns and cities in Connecticut enjoy this stellar rating. This certainly reflects well on the strong financial position of Easton fostered over the many years by prudent Republican fiscal leadership as well as on the quality and judgment of the dedicated people responsible for our financial planning and controls in Town Hall. Republicans led by First Selectman Tom Herrmann, Finance Board Chair Andy Kachele and Town Treasurer, John Campbell, met with Standard & Poor's to secure this enviable rating.

This projected savings over the next year enabled your Board of Finance to recommend additional funds to the budget approved on May 26 while keeping taxes the same and even adding $107,000 to the town's surplus or "rainy day" fund. This recommendation obviously appealed to both those who wanted additional expenditures for education ($40,000) and town services ($60,000) as well as to the majority of the voters who, when "questioned" in the earlier May 5 referendum, indicated that they would not support a higher budget. During the last two years, taxes have risen just 1.65% - likely the lowest two-year increase in decades.

Again, my thanks to all who came to the polls and to all the members of our many boards and commissions and town hall employees who worked so diligently during the last several months in these challenging financial times to deliver an acceptable budget on a timely basis.

Yours sincerely,

Hugh Barry