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BELGRADE — The town of Belgrade is surveying residents to learn their thoughts about moving the town’s budget from a calendar year to a fiscal year. Belgrade has a calendar year budget, running from Jan. 1 to Dec. 31 with Town Meeting in March.
Town officials have said the change would align the town’s budget with the Regional School Unit 18 budget and negate the need for the town to borrow money every year between the time the town budget is approved and tax collection, which happens after the tax rate is set once the school budget is approved in June.
Most towns with a fiscal year collect taxes in four quarterly installments, which may be easier for most people to manage than one large lump-sum payment, according to the town newsletter. Quarterly payments also yield better cash flow for the town.
Some residents may be concerned about making multiple tax payments during the transition to a fiscal year. Each of three options for changing to a new cycle would require at least two payments over the first 18 months versus one payment every 12 months. However, the amount owed and paid over 18 months would remain the same only the timeline of when payments would occur would change on a one-time basis, town officials said.
Taking the short survey is voluntary and anonymous is available online at the town website, townofbelgrade.com, the town office, 990 Augusta Road; the Belgrade Public Library, 124 Depot Road; the Center for All Seasons, 1 Center Drive; Belgrade Transfer Station, 92 Dunn Road; town’s Facebook page, facebook.com/belgrademaine.
