Financial Future

Financial Future

The Northfield Board of Trustees, faced with a growing deficit expected to rise to about $1 million by the 2014-2015 fiscal year, a 10-fold increase in five years, has been working to develop a plan to put its fiscal house in order. Without increased revenue, the village could be forced to make deep budget cuts that would impact the police and fire services and undercut public safety.

To assess the options available, the village formed the Long Range Financial Planning Subcommittee, composed of three trustees, which considered ways the village might proceed. The subcommittee studied four main options: enacting 20 percent across-the-board budget cuts; a referendum for a property tax increase; a referendum for home rule, which would provide the village more varied avenues for raising money; and creative restructuring ideas, including merging with another town.

After nine months of bi-monthly meetings open to the public, the committee recommended that the board ask voters to approve a referendum to become a home rule community. They felt that home rule would give Northfield greater local control over issues, such as zoning and the enforcement of local ordinances, as well as the ability to raise money by means other than property taxes to deal with the current fiscal crisis.

To start the process of listening to resident views, the board has scheduled a Town Hall Meeting at 7 p.m. on Tuesday, April 27 in the Village Hall Council Chamber. All residents are strongly encouraged to attend. The board also plans a series of public meetings.