Greenwich budget presentation shows roughly $543 million financing and a preliminary 6.81% required tax levy increase

Joan, presenting the town’s preliminary FY27 schedules, said the total amount to be financed in the submitted budget is roughly $543 million, a 4.33% increase over last year. She told the Budget Committee the preliminary mill‑rate calculation tied to that submission requires a 6.81% increase in the required tax levy before BET and RTM review and any post‑revaluation adjustments.

Joan walked through top revenue lines: property taxes (all‑in, about $471 million), conveyance taxes (town portion budgeted at $6 million for FY27 after higher FY26 collections), building permits (budgeted ~$5.2 million), state education aid (~$4.589 million), and the Peterson Trust (~$1.2 million). She said property taxes represent about 90.35% of total revenues in the submission and that final mill‑rate calculations will use the post‑revaluation grand list.

On pilot payments, Joan said the town recently received notice raising PILOT receipts to about $1,111,003, and that the majority of that amount relates to Greenwich Hospital. Committee members asked for reconciliations between slide figures and the budget book; Joan agreed to circulate supporting schedules and to clean up parentheses and page notes.

On investment income, Natasha Yametz and Joan said the submitted estimate of $5 million is conservative; preliminary recalculation using monthly averages and a 3% balance interest rate suggests interest income could be just over $6 million. The Internal Audit Committee (IAC) planned a review of that calculation and may recommend an upward adjustment ahead of decision day.

Joan said the town will continue to use fund balance conservatively in projections and will provide additional detail on prior‑year encumbrances and the Peterson Trust offset on the expenditure side.