Politics & Government

Good News, Bad News in Preliminary FY15 Natick Town Budget

Natick would create 30 new jobs, but the budget would also have a $3.75 million deficit.

Town Administrator Martha White gave encouraging news to the Board of Selectmen on Jan. 6, saying the Town of Natick is good financial shape due to improved reserves, a strong credit rating, among other factors.

The report was part of White's preliminary FY15 Town Budget presentation, which also included the addition of 30 jobs.

Of the 30, 22 will be added to Natick Public Schools thanks to the Superintendent Peter Sanchioni's preliminary budget, which reported increased enrollment and special education requirements. 

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The remaining new jobs include three public works positions, a police officer, a dispatcher and two administrative support services jobs, White said.

Residents will get a break in their taxes as the budget includes $750,000 for the Senior Center and Natick High School projects.

Find out what's happening in Natickwith free, real-time updates from Patch.

But not all of the news was bright, as White said the budget has a $3.75 million deficit, which she termed "significant."

"Certainly we yet again face a challenging budget year," she said, adding having a deficit at this stage of the budget happens.

The budget increases by 1.5 percent from last year, from $129.6 million to $131.5 million.

White, who said the projections were conservative, said the budget would have a drop in revenues by about $1.9 million.

Benefits will increase by 7.2 percent. White said that statistic may fall once more information about health insurance is revealed. 

Pension costs would increase about 8 percent.


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