The city council made quick work of approving Revere’s $297 million FY27 operating budget on Monday night.
After holding several ways and means subcommittee meetings to review the budget with department heads last week, the committee of the whole held a final meeting to review the budget before Monday night’s regular meeting.
“The ways and means subcommittee met on June 10, we had pretty efficient meetings, and this now the second year we have this committee of the whole to allow the rest of the council to have a public and open discussion regarding the budget,” said Ward 3 Councilor Anthony Cogliandro, the chair of the ways and means subcommittee.
During the brief committee of the whole meeting, the several questions that were asked largely concerned the funding of future budgets in light of the debt service the city is taking on for the new high school project.
Ward 1 Councillor Jim Mercurio asked about the city’s investment income it is receiving from a recent $75 million bond for the high school project, and Councillor-at-Large Michelle Kelley asked about the mechanics of the Revere enacting the Community Preservation Act (CPA).
City finance director Richard Viscay raised the possibility of adopting the CPA as a way to create more capacity in the general fund budget. The council would have to vote to put the CPA before the voters of Revere.
The CPA is a surcharge on property tax bills, with the funding set aside for open space, historical preservation, and affordable housing projects.
“Those dollars can be used to do things that we are doing right now within our operating budget … so if there was a revenue fund to do those sorts of things, it would free up capacity in the general fund,” said Viscay.
The total budget figure for FY27 approved by the council was $297,566,962. Factoring in revolving and enterprise accounts that are largely self-funded through fees – such as trash, water, and sewer funds – the total budget for FY27 was about $322 million.
The largest expense in the operating budget is the schools, which comes in at just under $138 million, with just under $5 million for the Northeast Regional Voke assessment, and the remainder making up the Revere Public Schools budget.
The public safety budget totals about $35.2 million, with $15.2 million for the police department and $15.7 million for the fire department.
Viscay said the proposed budget includes two new police officers and two new firefighters. The public works budget comes in at just over $5 million.
The proposed balanced budget is funded largely through local property taxes, state aid, and local receipts.
Property tax revenue is expected to be $133.2 million through the 2-½ percent increase in the tax levy under Proposition 2-½ as well as $3.5 million in new growth.
Local receipts, including motor vehicle excise and meals and rooms taxes, as well as licenses and permits; are estimated at $23.7 million.
Chapter 70 funds from the state for the school budget are estimated at $108.4 million, and Unrestricted General Government Aid for the municipal budget is penciled in at $13.3 million.
During Monday night’s council meeting, Council President Anthony Zambuto praised Cogliandro’s handling of the budget process through the ways and means subcommittee over the past month.