"This is my fourth budget address as First Selectman, and probably my gloomiest and the most difficult one to author," said Joseloff.
The Minuteman interviewed Joseloff prior to his Board of Finance address and before his speech was finalized, but Joseloff was able to give a close approximation of the information he planned to share with the Board of Finance, where discussions are under way to set the 2009-2010 town budget.
The total 2008-2009 budget was approximately $168 million, comprised of $59 million for the town side and $109 million for the education budget.
Joseloff said he was strongly considering asking the Board of Finance to approve a two percent tax increase, which is in line with what many surrounding towns in the area are doing, although he was also carefully deliberating the effects of a zero tax increase on town services.
He said, "I would like to not raise taxes at all, but I do not think it's realistic. We have already tightened our belt to the point where we are going to impact services."
Some of the unknowns Joseloff was facing include whether the Board of Finance will hold the line at a two percent increase or demand no tax increases at all.
"It's a sobering thought. The reality is, if we fund everything we ought to fund, deliver services and good schools, there is still a gap. It will have to be filled in some manner, which could include layoffs, reduced
hours of business in municipal offices, wage freezes, reduced hours for employees who are not laid off, and for non-union employees furloughs of 14-16 days a year, which amounts to a pay cut," Joseloff said.
"We are still crunching the numbers," said Joseloff, "to determine if it is going to be a flat budget or just a little bit above or below. A sobering thought is that more pain is to come because what we have done is not enough."
In past years, budget increases of four, five and six percent have been the norm. But this year, as the economy declines, and many Westport residents are hard hit by Wall Street gyrations and subsequent job losses, there is particular pressure to responsibly set town budgets to maintain Westport's financial stability and AAA rating.
"We are definitely going to maintain our AAA rating. We are one of a dozen or so communities in the state with that rating. It is very important to maintain it.
"Without that it costs us more to borrow when we go to market in July. The irony is we have to raise more funds to keep our reserves up while laying off people," Joseloff said.
Joseloff said some municipal employees will not be eligible for pay raises while others may be, an unfortunate situation created because of contractual obligations entered into with certain unions in the past.
Joseloff said that there is some good news in that roughly $2 million will be returned to the town at the end of this budget year, savings earned in part because of a newly negotiated solid waste contract and increasing deductibles on certain insurance policies.
He also said that while revenues from conveyance taxes, building permits and zoning fees were down, income tax collections appeared to be stable.
"However, it's like a patient, we are taking vital signs very often and the information could skew," Joseloff said.