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Hampden leaders review preliminary FY25 expenditures, plan reserve-account transfer request
Summary
Select Board reviewed a preliminary FY25 expenditure recap, identified several line-item misallocations and potential overages, and voted to authorize the town administrator to prepare reserve-account transfer requests for advisory committee review.
Select Board members on Monday reviewed a preliminary year-end expenditure recap for fiscal 2025 and authorized the town administrator to prepare requests to move funds from the reserve account to cover identified shortfalls.
The recap, prepared by town finance staff, showed program line items that need reconciliation and several instances where expenses appear in the wrong account, town officials said. Town Administrator Brian (role: Town Administrator) told the board that staff would return with formal transfer requests to the advisory committee for approval.
Why it matters: The transfers would reallocate existing town funds to ensure bills and payroll for FY25 are paid without disrupting core services, and they determine how much free cash the town can carry into FY26.
Board members and staff flagged specific items for follow-up. The board discussed a planned request to move funds to the reserve account and the need to finalize the last…
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