[Amended 5-22-2017 STM; 3-26-2019]
The total budget expenditures for any given year shall not be increased over the preceding annual Town budget year by an actual dollar amount in excess of revenue generated by the projected increase in the grand list, the receipt of state and federal income in excess of the amounts of such income received in the preceding fiscal year and other miscellaneous income. The increase in monies generated from an increase in the grand list shall be calculated by using the previous year's mill rate. This revision is subject to the following:
A.
In the event that the long-term bonding debt and associated debt service or long-term public obligation shall increase the budget as the result of Town Meeting action or public referendum, the budget may be increased by this amount and the additional funding may be raised by taxation.
B.
In the event that a specific revenue account, other than property taxes, is projected to decrease, the limit on total budget expenditures shall be reduced by the amount of the projected decrease unless the service is funded with the proviso that the Board of Selectmen recommend such funding as necessary to protect the public health, safety or welfare and the same is approved by the Board of Finance as per Section 7-348 of the Connecticut General Statutes and approved by simple majority of the electors and voters voting in a Special Town Meeting or referendum called for that purpose.
C.
In the event of an increase in the grand list due to revaluation, the actual dollar amount of increase in the projected budget shall be limited to the dollar amount of increase in the previous year's budget or the average amount of increase of the previous three years' budgets, whichever is larger.
D.
This limitation on budget expenditures for any fiscal year shall not apply to any expenditure necessary to pay:
(1)
Deficits or projected deficits from any prior year's budget or notes given to pay the same.
(2)
Expenditures and appropriations for special projects that will be funded by bonds, notes or other forms of borrowing.
(3)
Debt service on bonds, notes or other obligations of the Town.
(4)
Judgments or settlements of claims against the Town.
(5)
Expenditures mandated by the state and federal government in excess of the mandated expenditures included in the annual Town budget adopted for the preceding fiscal year.
(6)
Expenditures occasioned by natural disasters, civil disorders or other definable emergencies, provided that the Board of Finance, upon recommendation of the Board of Selectmen, determines that such expenditure is necessary to alleviate a serious condition endangering the public health, safety or welfare.
(7)
Expenditure increases which will be paid solely from grants, gifts or revenues other than property taxes.