Town Council Public Hearing: FY24 Operating Budget
BUDGET HEARING
PUBLIC HEARING ON THE PROPOSED FREEPORT MUNICIPAL BUDGET FOR FISCAL YEAR 2024 WILL BE HELD ON June 6th, 2023 AT 6:00 P.M., AS REQUIRED BY SECTION 6.05 OF THE TOWN CHARTER.
A BRIEF SUMMARY OF THE PROPOSED FISCAL YEAR 2024 BUDGET AS COMPARED TO THE FISCAL YEAR 2023 FOLLOWS:
Town of Freeport - FY 2024 Budget | |||||
Summary of Revenues and Expenditures with Proposed Tax Rates | |||||
Proposed 5/2/23 | |||||
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Revenue | FY 2023 Budget | FY 2024 Budget | $ Change | % Change | |
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Non-Property Tax | $ 5,579,300 | $ 5,863,000 | $ 283,700 | 5.08% | |
Property Tax | $ 7,066,347 | $ 8,187,427 | $1,121,080 | 15.87% | |
Use of Fund Balance | $ 675,000 | $ 675,000 | $ - | 0.00% | |
Transfer from Library Lease | $ 30,000 | $ 30,000 | $ - | 0.00% | |
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Total Revenue | $ 13,350,647 | $ 14,755,427 | $1,404,780 | 10,52% | |
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Expenditures |
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General Government | $ 2,035,396 | $ 2,301,302 | $ 265,906 | 13.06% | |
Protection and Enforcement | $ 3,500,805 | $ 3,882,175 | $ 381,370 | 10.89% | |
Health and Welfare | $ 42,000 | $ 54,000 | $ 12,000 | 28.57% | |
Public Works/Solid Waste | $ 2,579,645 | $ 2,750,550 | $ 170,905 | 6.63% | |
Library | $ 525,620 | $ 612,220 | $ 86,600 | 16.48% | |
Unclassified | $ 2,834,760 | $ 3,149,645 | $ 314,885 | 11.11% | |
Debt Service | $ 70,700 | $ 70,300 | $ (400) | -0.57% | |
County Tax | $ 1,288,252 | $ 1,436,042 | $ 147,790 | 11.47% | |
Transit Tax | $ 86,170 | $ 89,100 | $ 2,930 | 3.40% | |
Human Service Agencies | $ 40,800 | $ 39,000 | $ (1,800) | -4.41% | |
Bustins Island | $ 277,000 | $ 300,600 | $ 23,600 | 8.52% | |
Community Center Building | $ 44,499 | $ 45,493 | $ 994 | 2.23% | |
Abatements | $ 25,000 | $ 25,000 | $ - | 0.00% | |
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Total Expenditures | $ 13,560,647 | $ 14,755,427 | $1,404,780 | 10.52% | |
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County Projected Tax Mil Rate | $ 0.70 |
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Transit Projected Tax Mil Rate | $ 0.04 |
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Municipal Projected Tax Mil Rate | $ 3.39 |
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Copies of the proposed budget may be obtained at the office of the Town Clerk, the Freeport Community Library, or online at www.freeportmaine.com.
Caroline Pelletier, Interim Town Manager