FALMOUTH – Falmouth’s proposed Fiscal Year 2018 budget is $5 million more than this year’s budget, representing a four percent increase.
One of the biggest items in the budget is a 12 percent increase in health insurance costs and the school department will also see a 2.3 percent increase from the 2017 budget.
The budget is $128,262,522, which is up from this year’s budget of $123,079,362.
Falmouth Finance Director Jennifer Petit present the proposed budget to selectmen earlier this month.
“This was probably one of the most challenging budget years since I’ve been here putting the budget together,” said Petit. “We have a lot of fixed cost increases.”
Other increases in the budget include $360,000 for insurance and information technology and $375,000 in Falmouth Fire Rescue salary increases.
“The FY 18 balance budget I’m projecting of $18.9 million in estimated local receipts, additional water and sewer revenue to offset the budget increase for the new water filtration and wastewater plant, and then additional town revenue to offset a budget increase for the hiring of a firefighter,” said Petit.
Over 74 percent of the town’s projected revenue for the proposed budget will be property taxes.
By JUSTIN SAUNDERS, CapeCod.com Newscenter
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