The Board of Finance will discuss, and possibly take action tonight, on a proposed $94.5 million 2016-’17 budget that seeks a 4.17 percent spending increase and would result in a 2.86 percent mill rate increase. The meeting will be held at 7:30 p.m. Thursday, March 10 at the Community Center on Church Street.

On March 8, night, the finance board held a two-hour meeting on the proposed budget, hearing lengthy presentations on both the town and school portions of the budget.

The town presentation came from First Selectman Joseph Mazza, Jr. The school budget presentation came from Board of Education Chairman William Bloss and Superintendent of Schools Dr. Paul Freeman.

Mazza said he was proud of the budget, saying the fact that it comes with a proposed mill rate increase less than last year’s three percent increase was quite impressive considering the town opened a $92 million new high school in the past year.

Under the proposal, the town budget would rise $652,064 to $28,122,576, a 2.37 percent increase. Schools spending would rise $1,147,274 to $58,656,791, a 2.0 percent increase. Debt service will rise $1,972,817, a 35.2 percent increase; $1,229,670 of that rise is attributable to the new high school.

“This budget is result of good management,” said Mazza. “Our rainy day fund has grown to $6.7 million without us putting any additional money into it. We have maintained our AAA credit rating at the same time.”

When he was questioned by a resident as to why the town had to have a mill rate increase at all, Mazza answered: “It is my goal not to have any tax increases, ever year. Perhaps if we didn’t have a $92 million high school, we wouldn’t have had an increase.”

Mazza and Board of Finance Chair Matt Hoey said one of the challenges of keeping the budget in line is having to deal with decreasing funding on the state level, since the state is dealing with a monumental budget deficit.

As far as the school budget presentation, both Bloss and Freeman said they made a conscious decision not to ask for any major projects the year after the new high school opened its doors.

Freeman said the 1.99 percent schools spending increase is the lowest increase the school system has requested in five years.

Bloss said he believes one reason the budget process works well in Guilford is because of the cooperation between school and town officials.

“In some towns there is a lack of collaboration,” said Bloss. “That is not the way we do things in Guilford.”