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The tentatively approved 2022 to 2023 town budget (PDF) is $104,293,523.00 This is an increase of $7,605,324 or 7.87% compared to the Fiscal Year 2021-2022 Budget.
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The Town is one of 8 member towns of the MDC and makes quarterly payments treated as ad valorem taxes.
For the fiscal year July 2021 - June 2022 the Town paid approximately $3.8 million for sewer services. For fiscal year 2022-2023 the estimate is $3.9 million.
The 2022 to 2023 Board of Education budget is $48,841,803. This comprises 46.83% of the Town budget of $104,293,62 for the 2022 to 2023 fiscal year.
The Town's bond rating was affirmed by Standard and Poor as of August 2021 at AA+.
The mill rate for fiscal year 2022 to 2023 is 34.53 mills, down from 35.58 last year.
Bloomfield's 2 fire departments are separate from Town Government and the Town plays no role in establishing their budgets or mill rates but collects their taxes for them. The 2022 to 2023 Center Fire District mill rate is 1.5 and the Blue Hills Fire District mill rate is 2.5.
The Town audits for each fiscal year up through the period ending June 30th, 2022 are available on the Finance Department website. Hard copies are also available in the Town Clerk's office and the Library.
Each year, the Town audit report for the period ending June 30th will be available after December 15th. The Town's independent auditors are Blum Shapiro, LLC.
In 2016 and 2017, the Town is expected to receive about $6.9 million or approximately 7.6% of its operating budget from the State of Connecticut. These grants were reduced by about $300,000 from the prior year. The largest grant is the Educational Cost Sharing (ECS) grant, which totals $5.6 million.
The Town's audited collection rate for Fiscal Year 2015 to 2016 was 98.75%, up.15 from Fiscal Year 2015.
The Town had $68.0 million in its defined benefit plans as of June 30, 2016.
As of June 30, 2016, the Town had $52.5 million bonds outstanding and no short-term notes.