Town budget preview shows tight 2027 forecast, staff urges conservative interest assumptions

Town finance staff presented a draft 2027 budget that holds tax requests steady and reallocated line items after reviewing recent utility, phone and Internet costs. The presenter said the town is "not asking for any increase. It's gonna be the same as it was last year," framing the plan as conservative amid uncertainty.

Staff emphasized that interest income is volatile and removed it from base revenue for the 2027 estimate, noting that relying on variable bank rates could create shortfalls. The presenter pointed to a multi-year review and said the general fund estimate — aggregating property taxes, excise fees and franchise receipts — was calculated conservatively to avoid banking on fluctuating interest returns. The report also noted the town expects to cover some department shortfalls with grant proceeds if awarded, and that a potential JAG grant could offset roughly half of a staff wage line in one department.

Council members asked about the impact of a recent, large back-billing from the utility company. Staff said NIPSCO billed roughly $65,000 for prior months that had not been charged, and that the timing of that charge shifted some utility expense out of the prior fiscal year into the current one.