BARNSTABLE – Barnstable Town Councilors and members of the Barnstable School Committee held a joint meeting to discuss planning for the Fiscal Year 2018 Budget on Thursday night.
The councilors and members of the committee were provided with the current financial condition of the town by Finance Director Mark Milne.
According to Milne, the town collected around 99 percent of the tax levy by December 31 and there was a positive budget variance of $5.4 million for the town.
“Looking at the general fund revenues, we see no particular area of concern at this point in time, all the revenues are coming in as planned,” said Milne.
The town is projecting $3.7 million or 3.3 percent in property tax increases, a 2.7 percent increase in fixed costs and a 3 percent increase in revenues for the FY 2018 budget.
Milne said things are looking good for the town.
“We have not seen any indication that would identify that any department at this point in time has a budgetary problem,” said Milne.
The balance available for operations is a 3.1 percent increase from the 2017 budget at $102.6 million.
By JUSTIN SAUNDERS, CapeCod.com Newscenter