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Letter: Questioning Town Budget By The Numbers

By Lucia Jansen

 

I am writing to correct the recent Greenwich Patch front page story regarding the First Selectman’s proposed 2013-14 Town budget.  Your report cited the proposed budget at $382 million.  However, when one examines the Town provided documents, one quickly sees the $382 million is not the budget number; rather, it is the amount to be generated from property taxes and revenue to help cover a large part of the Town’s budget.  An additional $44.5 million in borrowings (i.e. debt) will have to be incurred to pay for the $426 million of total spending described in the proposed budget which is a 5.5% increase over the $404 million of spending in 2012-13.  Most interesting is that the Greenwich Patch did last year accurately describe the “record setting” $404 million Town budget including the borrowings.  Let us hope going forward your reporting provides an accurate representation of the Town budget and the impact it will have on both the current and future Greenwich taxpayer.
 

Lucia D. Jansen
RTM District 7 Member
Budget Overview Committee Delegate

TOG 2012-13 Spending Compared to Estimated 2013-14

Sources and Uses of Funds (from proposed First Selectman's budget)

 

 

FY 2012-13 Adopted Budget

FY 2013-14 Estimated Budget

FY 2013-14 Over (Under) FY 2012-13

Percent Change



 



Sources:  (cash in)


 





 



Property Tax

$    315,045

 $    325,961

 $      10,916

3.5%

Borrowings

$      36,629

 $      44,511

 $        7,882

21.5%

Other

$      45,763

 $      46,949

 $        1,186

0%

Fund Balance

$        6,904

 $        9,000

 $        2,096

30.4%



 



Total Sources of Funds

 $ 404,341

 $ 426,421

 $   22,080

5.5%



 



Uses:  (spending)


 





 



Operating Costs

$    333,712

 $    346,510

 $      12,798

3.8%

Capital Costs

 $      50,792

 $      57,882

 $        7,090

14.0%

Bond Repayment (Principal)

$      19,837

 $      22,029

 $        2,192

11.1%



 



Total Uses of Funds

404,341

 $ 426,421

 $   22,080

5.5%






 

 

 

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