2014 – 2015 Borough Budget Adopted

Posted by Bob on May 30, 2014 under Daily Blogs | 3 Comments to Read

The Joint Boards of Mayor and Burgesses (“Joint Boards”) adopted the 2014 – 2015 Borough budget at a meeting Thursday, May 30, 2014.  An electronic copy of the budget can be viewed here.

The adopted budget was  $352,991.00 less in expenditures than the budget presented at Tuesday’s (5/27/2014) public hearing.  Adjustments were made to both the revenue and expenditure side of the budget relating to the pending sale of the Borough’s sanitation vehicles, to comply with generally accepted accounting principles (“GAAP”).  The total budget for the 2014 – 2015 fiscal year is $115,241,177.00; or $4,333,754.00 more than the 2013 – 2014 budget.  This represents a 3.9% increase in spending from the previous year.  Approximately $4.4 million of that increase, however, is attributable to the increase in employee health care costs (approximately $3.3 million dollars for both municipal and board of education employees), federally mandated upgrades to Naugatuck sewer treatment facility ($800,000.00) and a repair to an existing sewer line ($345,000.00).   Those increases were offset by increases on the revenue side by using a portion of the Borough’s health insurance reserve fund and general fund balance.

The Board of Education budget was approved at $61,304,206.00, or $1,825,435.00 more than the 2013 – 2014 budget.  This represents an increase of 3.07% from the previous year.  Without the increases in employee health care costs, the Board of Education budget would actually be about 0.5% less than the 2013 – 2014 budget.

The impact  of the adopted budget to the mill rate is an increase from 44.8 mills to 45.06 mills.  This represents an increase in the mill rate of .26 mills, or 0.5%.   A mill represents one dollar for every thousand dollars of taxable property.   The median home value in Naugatuck according to www.zillow.com is $159,800.00.  The increase in taxes for such a home (assessed value at 70% percent of appraised value = $111,860.00) would be $29.08.  For those with Microsoft Excel or an equivalent program, a Real Estate Tax Calculator and a Motor Vehicle Tax Calculator can be accessed herein.

Real estate values by property owner can be viewed here.

Real estate values by street address can be viewed here.

Motor vehicle values from last year’s (2012 for the 2013 – 2014 fiscal year) grant list (actual value is subject to depreciation contained in the values provided from the state) can be viewed here.

The 2014 – 2015 adopted budget is subject to Naugatuck’s budget referendum process as described in the Borough Charter.

 

  • Steve Loban said,

    The good people of Naugatuck are getting H.O.S.E.D (High Over Spending Every Day) again!

    Davey says…

    http://www.youtube.com/watch?v=fMh6O7HuI08

  • Joao Gaspar said,

    I am sick and tired of this town they keep raising our tax I can afford .our tax are kill us I dint get a raise on my job for te last 3 years it’s time for the people working in this town get a cut our politicos Only care about then selfs.

  • Jan Mizeski said,

    Bob, is there an electronic version of the BOE budget available?

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