BOF discusses difference between tax collection and approved budget
Stafford’s Board of Finance (BOF) met on Thursday, August 20, 2026, and after approving a slate of transfers from one line item to another to balance last year’s budget, they discussed what happens now that the voters have approved a 2026-2027 budget that is less than the amount collected through taxes this year.
As a reminder, you’ll remember that the Board of Selectmen approved a Mill Rate of 25.59 in order to get tax bills out on time. However, the voters still had not approved a budget, so there is a discrepancy between what was collected and what can be spent. That discrepancy between the voter-approved 25.35 Mill rate and the one set earlier in the year turns out to account for about $309,000. So, what happens to that money now?
The BOF dove into this topic with Interim Chief Financial Officer (CFO) Lynn Nenni. She said her plan was to move the $309,000 from the unassigned portion of the General Fund to the assigned balance—setting it aside for next year when it can be used as revenue to offset that budget.
While there was some debate about whether or not that was statutorily required, BOF Chair Steve Geryk and other members of the board said they felt putting it toward next year’s budget was the proper thing to do given that was what the BOF said would happen at other meetings during the budget process.
