2009/2010
Budget (Excel)
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
