PORTSMOUTH, R.I. — Portsmouth Town Administrator Richard A. Rainer Jr. recently released his proposed budget for the 2019 fiscal year. View the entire proposed budget below.
The town administrator’s proposed budget includes an expenditure of more than $63 million from the General Fund or a 2.23 percent increase from the previous fiscal year.
The budget also calls for a tax rate of $15.974, 3.59 percent more than the current tax rate of $15.42.
“Based on revenue projections and recommended revisions to expenses I propose expenditures of $63,247,183 from the General Fund which is a 2.23 percent increase over last year and is in line with the inflation rate (CPI USA) over the last six months,” writes Town Administrator Rainer in the proposed budget.
“The proposal will entail a tax rate of $15.974 compared to the current rate of $15.42. A modest $0.554 increase represents a change of 3.59 percent and represents fiscally responsible budget policies and practices, the tax office’s continued efforts to maintain high collection rates, and an increase in the grand list (the compilation, by value, of all taxable and tax-exempt property within Portsmouth).”
View the complete proposed budget for the fiscal year 2019 below.