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Community Corner

BETHEL TOWN LEADERS CHOOSE BONDING OVER REAL TAX RELIEF

THE INCREDIBLE SHRINKING SURPLUS

At the July 14th Board of Finance Special Meeting, Town Comptroller Robert Kozlowski stated that, although he had previously said that we currently had $11 million on hand, in reality, we had access to $9 million, as $2 million was debt owed. Of that $9 million, he cautioned against spending any it because, although bonding agencies will grant a AAA rating to a Town with the recommended minimum 10% surplus, what they REALLY want to see is upwards of 25%. Sometimes an agency will terminate a bond rating on a whim – you can never be too careful when it comes to socking the money away so that the Town looks good to the bondsmen. The Town Comptroller also said that the agencies pay close attention to unsettled budgets and movement of money, lest Bethel give the impression that they don’t have their financial management process under control.

GOTTA SQUIRREL AWAY LOTS OF NUTS IF YOU WANT TO BORROW MORE NUTS

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Mr. Knickerbocker echoed Mr. Kozlowskis's advice, saying that we need to look towards the future because we are going soon going to be bonding to build a brand new police station.

We asked ourselves a couple of questions at this point: Why would a bonding agency even use 10% as a gauge, when they really mean 25%? How can taxpayers take Town leaders at their word, when the information seems to be as changeable as the wind? Is the bonding for the new police station worth the risk of employee layoffs and service reductions?

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SAD FACE BETHEL

Last night we heard about the possible scenarios that Bethel might face should this budget be defeated for the fourth time. Maybe  a 35-hour work week to a 32-hour work week. Maybe closing the Municipal Center on Fridays. The Comptroller warned that to use the surplus would be short-sighted and would be akin to “kicking the can down the road.”

First Selectman Matt Knickerbocker said that the tax increase only amounts to $10 more per month for most people. He also said that there’s no more grant money available to “pretty up the streets,” and that Bethel doesn’t even have the resources to empty the trash cans on Greenwood Avenue!

When asked if Bethel had ever dipped into the Fund to offset a tax increase, Mr. Knickerbocker said that it had, many years ago. And it took them forever to get back on track. And, in fact, the Town of Shelton suffered immeasurably when they used their surplus for the same purpose.

Mr. Knickerbocker said that he believes that people are not voting “no” not because of the budget, but because of their anger.

Are we angry? No. Frustrated? Yes.

ONE GOOD IDEA ON THE TABLE

Board member Timothy Draper suggested that some of the Surplus be used to pay down an existing $2 million in debt over several years. We sat up straight in our chairs – this sounded great to us. We immediately became less fixated on the surplus as a way to mitigate the increase in taxes. Even if the mill rate rose a smidge, at least this would have illustrated a VISION – something POSITIVE to  use the money for instead of it just sitting there making Bethel look good to the people who are willing to lend them millions of dollars.

But alas, this is not something that will happen overnight. It’s for down the road. Maybe once they find the can that we are always accused of kicking down that road.

AND SO IT GOES

So on Thursday, July 17th, we will vote on a budget that, on the whole, is much more palatable at a 1.9% increase. However, 0.6 mill rate increase is unacceptable given that Bethel already has the second highest equalized mill rate in the area as well as the highest fund balance at 14%.

We urge you to vote, “No, Too High.”

Cynthia McCorkindale, Chairman
Billy Michael, Treasurer
on behalf of the BAC and its Supporters

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