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- The Forecaster
CAPE ELIZABETH — Meeting as the Finance Committee, the Town Council finished its review of the proposed municipal budget on Monday, March 21.
The proposed $8.9 million budget includes increases in franchise fees from Time Warner Cable and an increase in fuel costs.
Although the franchise fee resulted in a $20,000 increase in revenue, the council adjusted fuel costs to reflect current prices by increasing energy costs from $3 to $3.25 per gallon. The fuel adjustment resulted in an increase of $18,000 to 20 different accounts.
Even with the changes, the tax rate increase for municipal services remains at 5 cents , or 1.2 percent more than this year, McGovern said.
Of the proposed $100,000 allocated for library maintenance, the council agreed to use $50,000 for crucial library maintenance and put $50,000 in a reserve account for work related to the design and construction of an updated library.
An April 4 Finance Committee meeting has been canceled, but the panel will meet on Wednesday, April 6, at 7:30 p.m. at Town Hall to start reviewing the school budget.