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Select Board reviews proposed debt policy as town prepares for $109 million school project vote
Summary
Board discussed a draft debt policy tied to S&P’s new methodology and potential impacts of the planned $109 million elementary school project; staff will refine the draft and auditor Tony Roselli will advise before finalizing.
Select Board members discussed a proposed municipal debt policy and how it would interact with a planned elementary‑school borrowing the town will consider on May 10.
Andrew (Select Board member) and Brian (finance staff) presented a draft policy that adapts new metrics in Standard & Poor’s January methodology, including measures such as net direct debt per capita and debt service as a share of governmental revenues. The draft sets internal targets (for example, a goal of keeping debt under roughly 2.5% of equalized valuation and per‑capita thresholds) and distinguishes general‑fund supported debt from self‑supporting enterprise or CPA‑supported…
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