Finance Board Meeting Sets Groundwork for FY2027 Budget
BOF asks departments to model 0% increase scenarios as budget meeting schedule is set for January
At its October 16 meeting, the Woodbridge Board of Finance (BOF) began the FY2027 budget process — which will culminate in May to determine next year’s property tax bills due July 2026.
Members approved the schedule for joint budget presentation meetings with the Board of Selectman, at which departments will present their requests for both operating and capital funding needs. The BOF also agreed to ask departments to identify what service or staff reductions would be required to hold their budgets flat at 0% so residents can better understand the trade-offs that may be required.
Department submissions are due in early January and a series of at least four joint BOS/BOF budget meetings will be held in late January, with the possibility of a fifth meeting if needed in early February. The BOS must deliver recommendations to the BOF by March 1, and the BOF will then act by March 20 to set the preliminary budget that will be presented at the public hearing on April 28. After any adjustments, the budget will be finalized for adoption at the Annual Town Meeting on May 18.
At its meeting, the BOF also discussed factors expected to impact next year’s budget, including the newly approved police union agreement — retroactive to July 1, 2023 — the costs of which will be covered this year with contingency funds and savings from current vacancies. It was noted that as vacant positions are filled at these higher pay rates, the FY2027 budget may start to feel an increased impact.
Recognizing the Amity School District’s significant share of the budget, the BOF will seek quarterly updates from the Amity Finance Committee along with enrollment projections to better anticipate impacts on Woodbridge’s allocation to the regional school system.
In other business included on the meeting agenda, an update was provided regarding the town’s FY2025 audit which is nearly complete. A draft is expected before Thanksgiving, with issuance mid-December and the auditor’s presentation to the BOF is expected to take place in January.
The BOF also voted to approve a budget transfer request from contingency to cover Woodbridge’s share of Probate Court costs. This amount is calculated based on the town’s grand list and therefore increased as a result of the most recent revaluation of property in Woodbridge.
BOF meeting agendas and minutes can be found on the town website’s Agenda Center page, and meeting recordings are available on the Town’s YouTube channel, WAGTV79. The October meeting can be viewed below:
