Updated June 30
Waterville council declares budget emergency to continue spending after end of fiscal year
The City Council held a special meeting Tuesday to authorize spending after June 30, as they wait to learn what the city will receive in state funding.
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WATERVILLE The City Council has declared an emergency and authorized spending to keep the city operating after Wednesday, the end of the city’s fiscal year.
Because councilors didn’t know as of Tuesday night how much revenue sharing the city will get from the state, they were waiting to vote on a proposed $46.6 million municipal and school budget until they have that information. The proposed budget for 2021-22 represents a $2.2 million increase over the current budget, but with revenues and tax increment financing funds the tax rate is not expected to change. The current rate is $25.76 per $1,000 worth of property valuation.