Stamford Board of Representatives Special Meeting Approves Fund 57 Tax Rate — May 20, 2026

The 32nd Board of Representatives of Stamford, Connecticut, held a special remote meeting on Wednesday, May 20, 2026, from 7:01 p.m. to 7:53 p.m. The sole agenda item was Resolution F32.088 (Resolution No. 4444), approving an additional tax rate to provide $7 million to the capital non-recurring reserve fund (Fund 57) for future school capital projects under Connecticut General Statutes §7-361, as recommended by the Board of Finance for fiscal year 2026-2027. A quorum was declared with 31 members present at roll call; 34 members were present at the time of the vote. The resolution passed by a roll-call vote of 32-1-0.

Discussion Items

• Board of Finance Chair Mary Lou Rinaldi opened the presentation, stating that the Board of Finance has used Fund 57 for many years to accumulate funds — currently about $74 million — to offset school construction expenses and avoid bonding costs. She noted that with $3 million previously approved from last year's surplus plus the proposed $7 million, the fund would reach about $85 million, and she strongly encouraged the Board of Representatives to support the appropriation.
• Richard Freedman (Board of Finance) presented slides explaining that Fund 57 is a capital reserve fund supporting the Board of Education's long-term facilities plan, authorized under state law with the additional tax levy not to exceed 4 mills. The city faces roughly $253 million in local share for school projects through 2032 (about $36 million per year), including West Hill (about $400 million) and Roxbury and South School (about $150–160 million each), with the state reimbursing a substantial portion.
• Freedman explained that paying with cash is cheaper than bonding over the long term, and that Fund 57 also provides cash-flow float while waiting 60–90 days for state reimbursements; West Hill construction billings could reach $20–25 million per month. He noted the fund has been built through $45 million from mill rates, $27.7 million from surpluses, and over $5 million in interest, earning roughly 3.5–4.5% interest.
• Freedman recounted that Fund 57 contributions were $20 million in 2022-23, then $15 million, $10 million, and zero last year, when the contribution was cut to hold down the tax rate. The Board of Finance recommends $7 million this year (the mayor recommended $10 million), approved on a 6-0 vote; the overall mill rate increase for 2026-27 is 4.8%, down from an original estimate of nearly 8% after Board of Finance cuts.
• Freedman attributed the higher-than-usual increase to slow grand list growth — about 35 basis points, the lowest in his 13 years on the Board of Finance — plus a 12.5% increase in health care costs and a $25 million year-over-year increase in the Board of Education budget. Surpluses, once $20–30 million annually, are now back to roughly $4–6 million and are needed for the rainy day fund, the heart and hypertension reserve, and capital non-recurring expenses.
• Representative Finkel asked whether Fund 57 can be used for expenditures before state reimbursement; Freedman confirmed this is one of its key purposes.
• Representative Goldberg noted that construction at West Hill has begun and that the project came in about $40 million under its $440 million authorization. He expressed full support for the $7 million, saying he wished the Board of Finance had recommended $10 million, and described last year's zero contribution as pennywise and pound foolish.
• Representative Pavia asked about the city's FY2024 audit (President Shaw ruled the question out of scope) and the current surplus (estimated at about $6 million). Freedman explained that surpluses are never spent on operations; they fund the rainy day fund, the heart and hypertension reserve, and capital non-recurring projects. Pavia expressed concern that residents are feeling squeezed by rising costs and asked the tax impact; he ultimately voted against the resolution.
• Representative Graham asked about fund management; Freedman confirmed the money is already appropriated and the administration handles sourcing, and noted the city hired an accountant dedicated to managing construction bills and timely state reimbursement submissions.
• Representative Weinberg calculated that the 0.22-mill addition is a little less than 1% of the mill rate, adding roughly $100 per $10,000 of property tax — for a typical home assessed near $500,000 with taxes around $13,000, about $130 more.
• Representative Adams asked why the tax rate is rising despite grand list growth; Freedman cited the low 35-basis-point grand list growth this year and rising costs. Adams also noted that about $13 million from surplus went into Fund 57 this fiscal year even though the mill rate contribution was zero last year.
• Representative Goldberg asked how Stamford compares to neighboring towns; Rinaldi said Norwalk's Board of Taxation called to ask how Stamford keeps its mill rate so low, as Norwalk was facing a 6–7% increase.
• Representative Pelliccia asked for clarification on the District CS rate; Freedman confirmed the apparent 24.71 vs. 24.72 difference was due to rounding to two decimal places.

Key Outcomes

• The Board of Representatives approved Resolution No. 4444 by a roll-call vote of 32-1-0 (Rep. Pavia voted no; Rep. Gross left before the vote; no abstentions).
• The resolution approved an additional tax levy of 0.22 mills in most tax districts (0.23 mills in District CS) for FY 2026-27, with proceeds directed to the capital non-recurring fund to support the long-term facilities plan for public schools. The resulting approved mill rates are: District A 25.14, District B 24.66, District C 24.31, District CS 24.72, personal property 28.47, and motor vehicles 24.31.
• The $7 million contribution, combined with $3 million previously approved from surplus, brings the total Fund 57 appropriation for the year to $10 million and is expected to bring the fund balance to about $85 million.
• The administration has recommended $10 million per year into Fund 57 for the next three years; Board of Finance members stated their goal is to increase next year's contribution from $7 million to $10 million.
• Fiscal Co-Chair Morson thanked the Fiscal Committee for its work this budget season before adjournment at 7:53 p.m.