Finance manager details town‑meeting transfers and FY24 audits; retained earnings used to cover projects

The commission reviewed finance items related to FY24 audits and proposed Article transfers for the upcoming Town Meeting. Finance manager Maria Basheva said the FY24 financial statement and passenger facility charge (PFC) audits were completed and submitted, and that no issues required commission action.

Basheva reviewed Article 2 (unpaid bills) and Article 3 (prior‑year appropriations/transfers), explaining that transfers are recommended to avoid ending the fiscal year in a deficit. She listed multiple transfers proposed for Article 3, including retained‑earnings support for the regional groundwater investigation ($132,584.55), airport rescue and firefighting (ARFF) equipment ($80,732.08), gate hold/stand article ($252,385.34), crew quarters/dorm construction (transfer listed as $3,885,000), and perimeter/fence/road consulting ($600,000). Basheva said some older capital articles would be reappropriated into current PFAS/groundwater work and that the total transfers for Article 3 were listed in the packet (total shown in packet was unclear in the meeting transcript). She told the commission retained earnings were certified in February (amount in transcript was garbled) and summarized that the total use of retained earnings proposed at Town Meeting across the items presented was $8,532,784.19 as stated in her closing summary.

Basheva also reviewed Article 17 transfers (salary and operating) including a $400,000 transfer into salaries and a $2,800,000 transfer into operating to cover potential acquisition for employee housing; and Article 23 rescissions of unused borrowing authorizations. Commissioners praised Basheva’s responsiveness in preparing materials for the finance committee and the commission.

Ending: The commission took the finance manager’s report for the record; staff will submit the warrant motions as prepared and present any additional clarifications before Town Meeting.