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EAST GREENWICH â€” Just as white Christmas may have arrived early last weekend, fiscal 2013 has knocked on East Greenwichâ€™s door a little earlier then usual.
The budget season officially kicked off Tuesday night with a work session hosted by the Town Council. Municipal department heads and the newly-appointed ad hoc 2013 Budget Advisory Committee also attended a meeting in which a schedule and parameters were laid out for the FY13 budget process.
â€śThe official start of budget season is today,â€ť Town Manager William Sequino Jr. said as he passed out a schedule of the townâ€™s budget process.
Town officials, anticipating a very difficult budget year with an $800,000 increase in bond indebtedness â€“ due largely to payments on the $52 million school bond approved by voters in 2008 â€“ and an anticipated large increase in pension costs, planned to get a jump on FY13 even as they approved the current budget in June.
The biggest piece of the budget will be pension costs, which the General Assembly is attempting to tackle in a special session that may last well into November. Council President Michael Isaacs said the town faces a $2.2 million hike in pension-related costs if pension reform is not enacted, while the measure proposed by General Treasurer Gina Raimondo and supported by Gov. Lincoln Chafee would result in only a $400,000 increase.
For more information pick up a copy of the East Greenwich Pendulum