"Despite a persistent public health emergency, the Commonwealth’s fiscal outlook for the remainder of fiscal 2022 and looking ahead to fiscal 2023 remains strong, but not without some uncertainty.
Tax collections far exceeded benchmarks in fiscal 2021, leading to a substantial state surplus, and they are on track to do the same in fiscal 2022.
Still, during the annual Consensus Revenue Hearing convened today by the House and Senate Ways and Means committees and the governor’s budget office, the Department of Revenue and other fiscal experts and economists offered cautious outlooks for the economy and state revenues over the second half of fiscal 2022 and for fiscal 2023."
Continue reading the article online
https://www.mma.org/budget-outlook-for-fy23-is-a-balance-of-strong-revenue-and-uncertainty/
https://www.mma.org/budget-outlook-for-fy23-is-a-balance-of-strong-revenue-and-uncertainty/
We enter the FY 2023 budget season. The Town of Franklin departments are working on their department level operational and capital requests. The capital budget will be first reviewed via the Finance Committee before going to the Town Council capital budget subcommittee and eventually to the full Council for approval. As with prior years, the capital budget is likely to be addressed in two phases: the first utilizes the available free cash less some amount held to cover additional snow/ice expenses this winter; after the winter expenses are finalized, then the second portion of free cash is utilized for the capital budget.
The Town budget process and documents can be found
The School budget follows a similar timeline
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| "all heavily qualified with discussions of uncertainty" |
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