Monroe Board of Finance Approves 2025-2026 Budget
In a remarkable display of unity, the Monroe Board of Finance announced the approval of the town’s 2025-2026 budget with unanimous consent, establishing a solid financial groundwork for the upcoming year. Against the backdrop of a mandatory revaluation required by C.G.S. §12-62, the board has diligently crafted a budget that reflects both the priorities and challenges facing the community.
Budget Overview
The approved budget totals $108,190,824, marking an overall increase of 3.92% from the previous year. Central to the budget’s approval was the establishment of a mill rate of 28.67 and a collection rate of 98.9%, balancing fiscal responsibility with community needs.
Town vs. Board of Education Funding
Rebecca O’Donnell, Chairwoman of the Monroe Board of Finance, highlighted the distribution of funds between the town and education sectors. “Our fiscal decisions are aligned with the welfare and resources of the town as a whole,” she asserted.
Town
- Total: $32,523,469
- Increase: $649,620
- Percentage Increase: 2.04%
Board of Education
- Total: $74,700,763
- Increase: $3,236,504
- Percentage Increase: 4.53%
- Includes restoration of $783,134 from the initial budget request
Special Appropriations Totaling $466,593
The budget includes specific allocations to address the town’s evolving needs:
- EMS vehicle replacement: $80,000
- Plan of Conservation and Development: $7,500
- Revaluation Capital Account: $70,000
- Police Heart and Hypertension: $20,000
- Municipal IT Plan: $35,500
- Capital Reserve: $243,593
- Legal Appropriations: $10,000
Despite utilizing the undesignated fund balance of $4,618,561, O’Donnell emphasized the importance of reducing dependency on these funds moving forward.
Maintaining Fiscal Discipline
Debt service for the fiscal year totals $4,629,877. The board’s reliance on prudent fiscal management was evident throughout the decision-making process, which O’Donnell described as a balance between fiscal responsibility and meeting the community’s diverse needs.
Gratitude and Acknowledgments
O’Donnell extended her gratitude to local taxpayers, town employees, and her fellow board members. “Your voices are the foundation of the collective commitment we share to build a bright future for our town,” she remarked. Additionally, she acknowledged the collaborative efforts of the First Selectman, Town Council members, and the Monroe Education system.
Community Engagement
As the town prepares for the upcoming referendum on May 6, 2025, O’Donnell urged residents to take an active role in the democratic process. “Democracy thrives when people get involved,” she stated, emphasizing the importance of community participation.
The 2025-2026 budget reflects a nuanced approach to governance, combining fiscal prudence with strategic investment in vital areas. As Monroe positions itself for future growth, the commitment to transparency and public involvement remains paramount.
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