Council approves budgets amid spring cash-flow and mill-rate concerns
misc · Meeting of April 13, 2026
CT PROSPECT — Prospect advances municipal budgets despite April cash-flow deficit and significantly depleted reserves. The Town Council approved departmental budgets during an April 13 budget workshop, including setting the Grants Director salary at $20,000 and approving Elections and Registrars at $103,630 in a split vote with Council members Jessica Hughes and Loreen Elbakry opposing. Financial consultant Dave Cappelletti from Clermont Associates warned of April-through-June cash-flow pressures and a fund balance below recommended levels, recommending accelerated receivables collection and delayed payables.
Council Chairman Mike Palmerie Jr. indicated the mill rate may rise two to three percentage points to address the deficit and rebuild reserves to at least $3 million.
In the full story:
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Source: the misc meeting of April 13, 2026, reported from the official video recording and transcript.
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