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The town of Fayston has approved a budget of $1,021,614 for FY2014. This number marks a 4.25 percent increase from last year’s budget of $978,979.
Next year’s increased budget is a result of anticipated small increases in spending across a variety of town departments, including administrative, highway equipment, insurance and town planning costs.
The town’s administrative costs increased 9.01 percent, from $37,191 to $40,543, due to a nearly $4,000 increase in auditing expenses for FY2014. Highway equipment costs also increased 13.38 percent, from $80,000 to $90,700, due to an $8,000 increase in diesel fuel costs. Fayston also plans to spend more money on electricity for the highway garage in FY2014, as its costs increased 17.19 percent, from $6,400 to $7,500.
Fayston’s insurance costs increased 16.48 percent, from $26,225 to $30,547 for FY2014, and salaries for town officials increased 1.62 percent. Salaries for the town’s highway employees increased 2.05 percent.
Town planning costs increased 9.94 percent, from $43,830 to $48,185, with Fayston allocating more money for advertising and zoning administration and increasing its contribution to the Mad River Valley Planning District (MRVPD) by almost $3,000, per the planning district’s request.