Sunday, July 21, 2024
North Attleboro Coin and Collectibles Show
HomeTown Council approves new fiscal year budget

Town Council approves new fiscal year budget

By Max

Following weeks of reviews, reports, and discussions, the Town Council has approved the FY 2023 operational budget of $102.2 million for the Town of North Attleborough.

The budget approval was made following a brief meeting on June 6. The council reviewed several measures related to the budget. This included money for capital improvements, different enterprise funds, and establishing the $9,999 limit that Town Manager Michael Borg has for making line item transfers without going before Town Council.

Borg said he only make such transfers twice last fiscal year, and needs to inform the council when this is done.

The budget is comprised of $67 million from the town’s tax levy and another $25 million in state aid, with the rest coming from grants and pilot programs. The Finance Subcommittee held meetings with department heads over the past two months.

We owe the Finance Subcommittee a great debt of gratitude for the work they did,” said Town Council Vice President John Simmons.

Borg said in April that the town is in solid financial shape, and he pointed out the AA+ bond rating by Standard and Poor’s, which will allow for more borrowing. The town’s health insurance costs haven’t increased, resulting in an expansion of coverage. In looking at the previous fiscal year, Borg said hotel receipts had tripled while vehicle sales had dropped, due mainly to a shortage of computer chips.

Several new businesses and developments are in the works, including Angle Tree Brewing, Pawtucket Credit Union, Four Corners Trading Cards, and the 192-unit apartments at 21 East St.

Borg said there are several big projects coming up in the near future. Perhaps the largest is rehabilitating the Allen Avenue School into a new Senior Center, along with space for other town departments. Another is the work at the Ray Beaupre Field. This includes replacement of the bleachers, repairs to the track, and upgrading the concession stands and bathrooms. Borg said as many of these projects will be paid for with cash so as to hold off on borrowing.

If we have the cash on hand, we should do it,” he said. “If not, we should put the money in the Capital Improvement Stabilization Fund.”

- Advertisment -
Kids Day 2024 July 18-21 at the North Attleboro Middle School
- Advertisment -
Big Blue Removal, Don't pay 1-800 Prices!

Most Popular

Recent Comments