Just as Wilton has begun developing our fiscal year 2018 budget, so have the Governor and the State Legislature. Facing an estimated $1.4-billion deficit in FY 2018 alone, last week Gov. Malloy presented his proposed budget. For Wilton his proposals mean a more than $1 million reduction in educational aid and a $4 million bill from the State teacher pension plan. If both are adopted by the Legislature, they could mean an approximate 5% increase in Wilton’s annual budget.
Many of you have contacted me to gain an understanding of the issues related to the teacher pension proposal. The following is an overview of the plan, the possible impact on Wilton property taxpayers and what we can do as a community in response.