Norwell’s town administrator went over the town’s proposed fiscal 2015 town operating budget with the board of selectmen and advisory board Wednesday night.
Town Administrator Jim Boudreau said the town’s $45.7 million proposed budget is a level services budget that’s balanced without using any money from free cash, stabilization or capital stabilization.
Boudreau also said the deficit in this year’s snow and ice budget could turn out to be even greater than last year.
“We currently have $2,990,014 in free cash. If you look out the window, you can see our free cash rapidly eroding, as its being plowed, salted and sanded away. As of last week we had a deficit of about $151,000 in the snow and ice account. We’re probably up over $200,000 at this point and that number is still growing so, that number has to be accounted for right off the top. Figure, that’s probably going to be in the $350 to $400,000 range for the snow and ice deficit at the rate we’re going, which is actually going to be higher than last year.
Our stabilization budget is $170,194. The capital stabilization budget stands at $800,305. Again, none of those are being used to balance the budget. Those are all available funds for outside articles for capital or for other emergency repairs that we may have coming up,” Boudreau said.
The budget reflects an increase of 3.93% over last year and 4.54%, with the addition of the debt exclusion for the construction of the new police station.