After two months of deliberations, the Board of Selectmen approved the town’s budget on Wednesday night at $28,738,092, a 4.7% increase from this year’s budget of $27,454,940. The Board of Finance will now examine the Board of Selectmen’s and Board of Education’s budgets.

With the Board of Education’s budget at $68,658,145 and debt service at $9,105,582, the total town budget stands at $106,501,819, a 4.3% increase from this year’s budget of $102,078,176.

First Selectman William Brennan touted the 4.7% increase in the town’s budget as the lowest increase in four years.

“We’ve got a pretty reasonable budget here,” said Mr. Brennan. “I don’t think there’s much more we can pull out of this.” He added that the increase was only slightly higher than the inflation rate.

“I wish it could be lower, but I think we as a board and you in particular have done a pretty good job,” said Selectman Richard Creeth to Mr. Brennan.

Among the items the board cut during the budget process were a training room for the fire department and a study requested by the police department to assess the use of space in police headquarters. Mr. Brennan said both items would have to wait.

“Eventually we’re going to take a look at the entire complex here,” and when that happens the training room and the future of the police department would be considered, said Mr. Brennan. The town hall complex renovations are tentatively scheduled for fiscal year 2013 and are currently estimated at $5.5 million.

Another place the selectmen made cuts was the library, which saw $50,000 taken out of its budget by the board, bringing its request down to a 6.4% increase. After being asked by the selectmen to make cuts, members of the library board said they could not, and that they needed everything they had initially requested. The selectmen made the cut themselves, and in a letter last week, Louise Herot, library president, said the board would not challenge the cut.

“The 6.4% increase is a reasonable increase for their operations,” said Mr. Brennan.

Looking over capital requests from the departments, Mr. Brennan said he was pleased the selectmen managed to eliminate $436,000 worth of capital items from the budget while also delaying $150,000 for an excavator. The excavator is expected to be included in the fiscal year 2010 budget.

The five-year capital plan also was examined. Though $2.1 million is earmarked for open space in fiscal year 2011, Mr. Brennan said, there was no open space in town actively being pursued.

Selectman Hal Clark said the purchase of open space might not be possible because of other bonded items that are expected in the near future. In fiscal year 2010, for instance, $13.5 million is on the capital plan to be used for renovations to the Comstock Community Center. Mr. Brennan said that was a “best estimate” from the Comstock steering committee.

John Kalamarides, chair of the Democratic Town Committee, suggested to Mr. Brennan there might be a donor willing to give money to the Comstock project, and Mr. Brennan said he’d throw that possibility “into the mix.”

Two bonding items are scheduled to be voted on at the Annual Town Meeting in May, both from the Board of Education. The board has requested $500,000 for a new field house roof and $450,000 for completing design work on the high school renovation project. A $24-million request for that renovation is currently scheduled for the fall, though some members of the Board of Education said they were uncomfortable with that number until the design phase could be completed. An alternate plan for the renovation, at around $12 million, has also been discussed.

The Board of Finance will hold public hearings on the Board of Education’s budget and the Board of Selectmen’s budget on Monday, March 31, and Tuesday, April 1, respectively.

The Board of Finance has line item power over the Board of Selectmen’s budget, but may only request that the Board of Education cut a specified amount of money. In the past, the financiers have traditionally asked each board to make its own cuts. The financiers will also vote on whether to recommend the two bonding requests to voters.

The Annual Town Meeting will be held on Tuesday, May 6, at 7:30 p.m., with voting continuing on Saturday, May 10. A location has not yet been set.