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North Reading

Town Meeting approves budget

After a delay of nearly an hour for lack of a quorum, Town Meeting on June 4 approved a $52.1 million budget for the 2013 fiscal year, which begins July 1. In its report to Town Meeting, the Finance Committee noted that fixed costs, most notably for health insurance coverage for municipal employees and retirees, consume nearly 28 percent of the town’s operating budget. Meanwhile, growth remains low, with new development adding just $400,000 in property tax receipts. As a result, the town has less than $1.3 million in additional funds for next year; much of the increase will be used to maintain services at existing levels. Still, the budget was balanced through the use of several reserve funds, free cash, and the good fortune of a relatively snow-free winter, which saved money on road-clearing expenses. Town Meeting also approved spending $97,000 for an updated water master plan and $82,000 for two Water Department vehicles. The water master plan was last updated in 1992. The Water Department vehicles that are being replaced are more than 10 years old with high mileage.