Thursday, December 6, 2012

"There’s an air of uncertainty"

You may have heard it before and you did because it is true. Until the overall economic conditions radically improve, this situation will arise each budget year.

Franklin Town Administrator Jeffrey Nutting said Wednesday that he’s confident the town has enough money in its reserve to make it through the year without slashing jobs if the state makes cuts, but fiscal 2014 could be a different story. 
"We can survive short-term, but it’s the long term I’m worried about. Franklin is overly dependent on state aid, and a cut would have a major effect on us," said Nutting. 
About one-third of Franklin’s 2013 budget – $30 million of $92 million – is funded by state aid due to the town’s fast growth and school-aged population. Even a slight decrease in fiscal 2014 aid would therefore be concerning for the town. 
"We are much more heavily dependent on state aid than other communities our size," Nutting said. "A fiscal 2014 reduction in state aid of even 2 or 3 percent is a million bucks, and to another town of size, it could only be $200,000."

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