HOPE — The Hope Board of Selectmen voted April 12 to approve the Fiscal Year 2017 budget, which represents a 4 percent increase in expenditures over the FY16 budget. The town’s portion of the budget is an 8.85 percent increase over last year, and the total budget, including the county and education portions for Hope, is a 5.15 percent increase over FY16.

Hope's FY17 budget increased by a total of $138,628 over last year. The FY16 budget was $2,692,715, which included $3,123,485 in expenses and $430,770 in revenue. This year's budget is $2,831,343, which is comprised of $3,264,493 in expenses and $433,150 in revenue.

The expense lines show a difference of $141,008, and with a revenue increase of just a little over $2,000, which is pretty flat, there is little to offset the upcoming year's added expenses.

According to Hope Town Administrator Jon Duke, the largest impacts are an increase in the town's emergency road repair reserve, the establishment of a reserve to handle repairs on municipal buildings and the first year of funding the fire department's five-year capital and equipment plan, through additional funding for the fire department reserve.

The estimated mil rate for Hope property tax payers is between 13.98 and 14.02 percent, depending on whether the tax valuation is $202 million or 202.5 million.

Either way, the mil rate breakdown is 12.82 percent for the town's budget, 8.12 percent for the county's budget and 79.06 percent for Hope's share of the district's education budget.

For comparison, the mil rate for FY16 was 13.40 percent. Historical total mil rates follow:
FY11 - 12.65
FY12 - 12.85
FY13 - 12.90
FY14 - 12.90
FY15 - 13.14

Voters will be asked to approve the budget at Town Meeting on Monday, June 20 at 7 p.m. at the Hope Elementary School, 34 Hatfield Road. The Town Report will be available at the town office the first week in June, and an e-version of the document will also be made available via a link on the town’s website at that time, per the town office.

The Hope Budget can be read here.

Reach Editorial Director Holly S. Edwards at hollyedwards@penbaypilot.com and 706-6655.