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Finance Committee Seeks to Rebuild Athletic Facility Fund; Turf Replacement Targeted for 2035
Summary
Committee discussed field-fee revolving fund balance, recent $1 million transfer for tennis courts, and a plan to rebuild reserves for an estimated $1.8 million turf replacement in 2035; committee recommended the athletic facility article.
The Needham Finance Committee on March 19 discussed the town's Athletic Facility Improvement Fund, its recent drawdown and plans to rebuild the fund ahead of a major turf replacement expected in about a decade.
Finance staff (Dave) explained that a prior transfer of roughly $1 million was taken from the fund for tennis courts, leaving an available balance of about $202,706 as of Jan. 1, 2025. The…
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