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Town officials consider savings funds allocations

KILLINGTON - The Select Board is expected this week to vote on putting a town budget and other funds up to voters for their approval this March.

A meeting was scheduled this Tuesday (Jan. 15) for the Board to work out the final details of the "2013 General Fund Revenue and Expense Budget Proposal".  The proposal provides no increase in recurring annual expenses and taps $711,864 in undesignated funds to pay for one-time expenses. In total the plan calls for $5,072,580 in spending, 5 percent, or $232,000 more compared to spending in 2012, while holding the line on taxes.

According to current projections, there will be no new increase in municipal taxes.

The tax rate would stay the same at 28.5 cents for every $100 of property value. About $2.3 million would have to be raised by taxes.
The Board has to sign the warning for the annual town meeting Jan. 22.

The Board planned to ask voters to approve the proposal in three articles on the ballot: the budget, an additional allocation of capital funds to the Fire Department, and an additional golf debt payment.

Regarding the use of $711,864 in undesignated funds Town Manager Seth Webb  proposed using the money to fund six one-time expenses: using $173,000 to replenish highway capital funds that were used during Tropical Storm Irene, $26,000 to upgrade the streetlights to LED blubs so the town can get better electricity rates, $17,500 to match a federal grant for an emergency generator at the town school, $75,000 for fire department capital expenses, $225,000 to establish a restricted fund dedicated to paying off a more than $1 million golf course debt payment in 2023, and $195,364 to keep the town tax rate flat.

The Board is expected to approve the three special budget articles this week for the March public vote.