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Town manager reports drop in grand list, ongoing audit and FY26 budget schedule
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Summary
Town Manager summarized the town grand list decline, personal property audit status, two audit deficiencies now addressed and the FY26 budget calendar; manager said final BAA adjustments and audit wrap-up are expected by March 20.
Winchester’s town manager told the Board of Selectmen on Feb. 18 that the town’s grand list has declined compared with last year and that an ongoing personal‑property audit and Board of Assessment of Appeals (BAA) adjustments will determine the final figure before the town completes its FY26 budget.
The manager reported a grand list total of $1,011,123,362 and compared it to a prior year figure transcribed during the meeting. He said the town’s software no longer subtracts elderly homeowner exemptions correctly and that the assessor’s office must add that portion back into certain lines. The manager said motor‑vehicle assessments fell by about $13.7 million and that personal property value grew by about $2.3 million. He reported a working estimate for BAA adjustments and said the overall grand list decline transcribed at roughly $14.4 million, which he said would reduce revenue by about $393,463 at the current mill rate of 27.24.
On auditing, the manager said the town paid approximately $52,000–$53,000 for the personal property audit and that, to date, the auditors had identified a little over $40,000 in additional tax revenue. He said the auditors remain in review and that he expects audit revenues and BAA changes to be finalized by March 20.
The manager summarized two significant audit deficiencies that had been identified in the town’s financial statement letter: grant reporting and the purchasing policy. He said both deficiencies have been addressed and the corrective actions were implemented before the auditors’ letter was issued.
The manager also reviewed the FY26 budget schedule: the CIP presentation is scheduled for March 6, the manager will deliver a proposed budget to the board by March 14 (charter requirement is March 15), the Board of Education hearing is March 25, the BAA deadline is March 31, the town public hearing on the proposed budget is April 7, and the annual town meeting is set for May 12 with a suggested referendum on May 27. The manager told the board that if final BAA adjustments are not recorded, a final grand list will still be filed but that he expects the March 20 BAA timetable to provide final numbers.
Ending The manager asked selectmen to direct questions to staff and said he will continue to press the auditor for a full accounting in March. He also noted the town is monitoring collection rates and expense pacing as it finalizes the FY26 schedule.
