Committee projects surplus, discusses fund balance options and a $5,000 merit warrant article
Finance staff reported an unexpectedly strong fund balance position and the committee discussed options for reducing excess reserves over three years and creating a small separate warrant article to authorize merit increases.
The full story
The Budget Committee heard updated fund‑balance projections from finance staff showing the town beginning the fiscal year with roughly $5.1 million in available fund balance and a projected operating surplus of approximately $100,000–$200,000 for the current fiscal year, reversing an expected drawdown in the adopted budget.
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