Advancing the Belmont Compact

Citizens for a Fiscally Responsible Belmont is focusing on three initiatives to further our goal of working to increase accountability, responsibility and transparency in all aspects of town government.  The first of these is Advancing the Town Compact.

CFRB diligently advocates for restrictions in spending growth and the execution of a Belmont Fiscal Compact with residents is crucial for stronger fiscal stewardship.

Belmont municipal and school officials have stated their intent to draw up a compact with Belmont citizens, promising to limit annual spending growth. Other towns have executed a similar agreement. For example, prior to their recent override ballot vote, Arlington officials committed to restraining municipal spending growth to 3.25%, and school spending growth to 3.5%.  Arlington's promise to limit budget growth works to more closely align spending to the annual legislative tax increase (2.5%). This consequently curtails the need for frequent overrides.  In contrast, Belmont's 2025 budget shows a 6.4% increase in spending in the school budget, and an overall spending increase in the General Fund of 5.7%. (inclusive of both school and municipal budget increases).

The Belmont compact effort was introduced prior to the 2024 override vote.  Citing lack of time to come to an agreement, no commitment to controlling spending growth was made by town officials prior to the vote in April 2024.  
 
Spending restraint is grievously lacking in Belmont.  The current budget spend depleted the 2024 override dollars. In fact, just $950K of the $8.4million override remains. While the amount to fund future budgets has been supplemented with "free cash" reserves, town and school officials are already positioning for the next override. 

Responsible spending and stronger financial stewardship are critical to sustain Belmont. The Belmont Compact must reflect controlled spending growth, aligned to the anticipated annual tax revenue increase of 2.5% -- not unfulfilled promises for spending constraint and a plan for another override in three years or less.