Town Administrator Presents Swampscott's Financial Forecast

Town Administrator Thomas Younger presented the 2013 budget to the Board of Selectmen last week, which provides for spending $53,102,481 next year while bringing in revenues of $52,900,128.

Some of the budget pressures outlined were:

•  The current economic recovery is not yet helping the town's budget
•  State aid is not expected to help much. The projections were that Beacon Hill would maintain its level of funding to the town for the next three years and increase it by 2 percent in 2014 and 20-15
• Swampscott is controlling discretionary spending, but some non-discretionary spending like health insurance and pension costs continue to rise faster than inflation
• The town needs to create a long-term capital plan with funds available.

Younger said the town will seek state and federal funds to help upgrade and repair the chronic sewer and storm water infrastructure.

He told the selectmen not to expect much new money from additional businesses and new residences because the town is "built out."

There has been an increase recently in permit fees to tear down and replace houses, he said.

The Nahant tuition is expected to be $1,135,600 in FY 2014, he said.