April 9, 2026
.com
Guilford Vol. XXIX Iss. 15
BOF Cuts $750K From Budget By Aaron Rubin Staff Writer
The Guilford Board of Finance approved $750,000 in cuts to the proposed fiscal year 2027 town budget, reducing spending across municipal departments and employeerelated accounts while leaving a projected tax increase in place.
The reductions lowered the municipal budget from $51,132,844 to $50,682,844. Combined with a $300,000 cut to the education budget, the total proposed town budget now stands at $129,413,203, including capital expenses. One of the most significant municipal reductions is a $341,000 cut to town employee retirement plans. The move was
recommended by the town’s pension actuaries and adviser, according to First Selectman Matt Hoey, and is paired with a change in the town’s discount rate from 7% to 6%. Hoey said Guilford has made “a concerted effort over time to reduce” the rate, recently lowering it to 5.75%, making it “one of the See BOF Cuts $750K page 7
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Photo by Wesley Bunnell/ The Courier
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