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Finance committee approves FY26 municipal and school budgets, authorizes $387,490 curriculum transfer and removes gaming revenue lines
Summary
The Town Finance Committee approved the FY26 municipal operating budget and school appropriation, voted to transfer $387,490 from the capital improvements restricted surplus fund to pay for school curriculum capital items, and removed two $200,000 gaming revenue lines from the revenue schedule.
The Town Finance Committee on April 25 approved the FY26 municipal operating budget and the school department's recommended appropriation, authorized a $387,490 capital transfer for school curriculum items and voted to remove two $200,000 gaming revenue lines from the budget revenue schedule.
The committee approved a municipal operating budget of $27,800,423 and accepted the school department's appropriation of $45,715,299, yielding a total education budget figure shown in the packet of $67,000,005.03. Committee members also approved the current-year tax levy as presented at $61,566,136.
The committee voted, 7-1, to adopt Resolution 15 authorizing transfers of up to $387,490 from the Capital Improvements Restricted Surplus Fund (Fund 12) to the Schools Capital Reserve Fund to fund specific curriculum capital items. The resolution lists the items and maximums approved: Eureka (digital) up to $89,600; Imagine Learning math ("Illustrative math") up to $30,100; Open Up ELA skills up to $37,500; i-Ready assessments up to $117,650; ATLAS up to $14,600; Open Up ELA digital access up to $50,900; Vocab.com/integrated school licenses up to $2,340; and StudySync ELA 2021 up to $44,800. The resolution requires any unspent or unencumbered appropriation for each listed item as of June 30, 2026, to be returned to Fund 12.
On revenue items, the committee voted to reduce the two budget lines that each carried $200,000 (labeled in the packet as sports betting and internet gambling) to $0 and voted to relabel the related line in the packet to "Casino gaming commissions," following the solicitor's opinion that those receipts should be included under the town's casino gaming commissions category and not listed separately.
Committee members discussed the effect of replacing capital charges in the operating budget and the near-term pressure on restricted capital funds. Several members noted the town has front-loaded capital while fund balances remain tight; the packet shows Fund 50 with about $336,000 remaining and Fund 12 (capital improvement restricted surplus) with about $2,581,114 available before the transfers approved at the meeting.
Votes at a glance
- Approve municipal operating budget of $27,800,423: Motion made and seconded; outcome: approved (vote recorded as "ayes have it"). - Approve school totals and education budget figures (school appropriation $45,715,299; total education budget shown $67,000,005.03): Motion made and seconded; outcome: approved (ayes have it). - Approve combined budget totals (accumulated package): Motion made and seconded; outcome: approved (ayes have it). - Adopt Resolution 15 (transfer up to $387,490 from Fund 12 to School Capital Reserve for specified curriculum items): Motion made by Bob, seconded by Bruce; outcome: approved, tally 7 yes, 1 no. - Set sports betting and internet gambling budget lines to $0: Motions made by Bob, seconded by Bruce; outcome: approved (ayes have it). - Rename revenue line to "Casino gaming commissions" (to reflect charter language): Motion made by Aiden, seconded by Bruce; outcome: approved (ayes have it). - Approve current-year tax levy at $61,566,136: Motion made; outcome: approved (ayes have it).
Why it matters
Approving the municipal and school budgets sets spending and the tax levy that will appear on the warrant and determines how much restricted capital the town will use for school curriculum purchases. The approved curriculum transfer authorizes the school department to purchase several specified digital license and assessment products from capital reserve dollars, while the decision to collapse the gaming lines changes how anticipated casino-related receipts appear in the town's revenue estimates.
Implementation and next steps
Committee members directed staff to finish the budget message and finalize the resolutions for publication. The finance director and town administrator will prepare the disclosure statement and the packet for the financial town meeting. The Resolution 15 language requires any unspent item balances to revert to Fund 12 on June 30, 2026.
