On Wednesday, January 18, Town Manager Norman Khumalo will be joined by Town CFO Tim O’Leary, Superintendent of Schools Carol Cavanaugh, and HPS Director of Finance Susan Rothermich to share details of the proposed FY2024 town budget.
Topics will include:
- FY2024 proposed budget
- Income and expense projections for the next decade
- Balancing town services to meet the needs of all residents
The meeting will be held at the HHS auditorium at 6:30 PM.
>> RELATED: The Value of Hopkinton: $5.5 Billion
In December at a Hopkinton Chamber of Commerce meeting, O’Leary outlined the 2023 budget and sources of funds, which were primarily from property taxes. On the expense side, the town spent $103.8 million in 2023, with 53% of it going to the schools.
Construction of a new Elmwood School is expected to be a hot topic next Wednesday. O’Leary has previously stated that Hopkinton cannot legally borrow enough to fund the project, because to do so it would exceed the allowed debt limit, which currently stands at $73 million.
