302 Main Street Old Saybrook, Connecticut 06475-1741
SPECIAL MEETING MINUTES FOLLOWING REFERENDUM May 09, 2017 8:00 P.M. Old Saybrook High School |
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Mr. LaMay called the meeting to order at 8:09 p.m.
Mr. LaMay led the pledge.
D. LaMay; B. Thorpe; B. Lindley; B. O’Nell; C. Rzasa;
- REFERENDUM RESULTS~ DISCUSSION
Votes: General Government: 362 YES 66 NO; Board of Education: 357 YES 72 NO
Ms. Lindley asked if there is a difference in amount of revenue expected at the beginning of the budget cycle, to now. Selectman Fortuna explained that there was no difference.
V. SET MIL RATE/FURTHER DISCUSSION/ACTION ON FY 16-17 BUDGET
Mr. Fish passed out the Mill Rate Calculation for the year ending June 30, 2017, as follows:
Grand List: $2,235,568,375
Tax Collection Rate 0.99
Other Revenues 1,880,200
Fund Balance Appropriation 0
Total Revenue (Budget) 45,377,322
Mill Rate = 1000 x (Total Revenue-Other Revenue-Fund Balance Appropriation) / (Grand List x Tax Collection Rate) = 19.6534 = 19.66.
Difference = 0.40 Present Mill Rate = 19.26
A motion to set the Mill Rate at 19.66 was made by Mr. Thorpe, seconded by Mr. O’Nell. Motion passed 5-0-0.
Tax Collector, Mr. Maynard received a signed letter of communication from Chairman LaMay stating the mill rate, grand list October 1, 2016, of 19.66 mills.
VI. ADJOURNMENT Meeting adjourned at 8:16 p.m.
Submitted: Gerri Lewis, Clerk
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