GEORGETOWN – The Town of Georgetown would like to share the following information as it relates to the FY26 Budget to assist residents in casting informed votes this year.
In an effort to keep residents fully informed, the Town of Georgetown has updated the Georgetown Budget Portal website, https://georgetownbudget.com/, to reflect FY26 information. The site includes a tax calculator, community impacts, budget documents, frequently asked questions, and available tax relief. Residents can submit questions through the contact form, view additional meeting minutes, agendas, and recordings, and stay up to date with the latest budget news by subscribing to the site.
The town proposes two scenarios: A level-funded budget (rejecting an increase over Proposition 2 1/2) and a needs-based budget (seeking an increase over Proposition 2 1/2).
A level-funded budget of $36,265,915. This is based on the Town’s projected FY26 revenue, an increase of 0.6 percent. This does not include $449,436.16 from the town’s free cash account, which would be drained in the budget, and would raise the total budget figure to $36,715,351.16. Under this scenario, Town Administrator Pacheco is projecting significant staffing reductions in virtually all departments.
Police, fire, and schools have expressed those conclusions more specifically in their own department budget proposals. See Georgetownbudget.com for more specific information.
The Town also has developed a needs-based budget of $42,265,915, reflecting the costs of meeting residents’ service needs through the next 3-5 years. The proposed budget accounts for an additional $6 million, as requested in a Proposition 2 1/2 override. This budget would also prevent the town from draining its free cash reserves, which state and municipal budget experts caution against doing.
BACKGROUND:
In 2016, Georgetown contracted an independent third-party accounting group, the Abrahams Group, to conduct a financial analysis of the town. The Abrahams Group report considered projected revenue and expenditures over the following 10 years, FY17 through FY27. Through this report, it was determined that the town would need to consider alternative revenues or a possible budget increase/override.
Over the past eight years, the town has been able to minimize costs and has not asked for increased funding. However, due to varying revenue and increased costs, Georgetown has needed to ask for additional funding for the last fiscal year and this fiscal year. Last year, voters turned down the proposed Proposition 2 1/2 override.
The budget will be deliberated at the Annual Town Meeting on May 5, at 7 p.m., at the Georgetown Middle-High School.
The Proposition 2 1/2 tax override would then appear on the town election ballot. Elections will be held on May 12 from 8 a.m. to 8 p.m. at the Penn Brook School.
More information about the budget can be found on the official Georgetown Municipal Budget portal here.
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