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Norwood finance panel backs $7.5M in free cash for FY26; asks Selectmen to place reserve and retirement articles on warrant
Summary
Finance Commission reported that the Budget Balancing Committee recommended using $7.5 million of certified free cash to support the FY26 operating budget, noted higher health‑insurance projections and unanimously voted to ask the Board of Selectmen to include several reserve and retirement items on the special warrant.
The Finance Commission on March 6 reviewed the FY26 budget process and voted to request that the Board of Selectmen place multiple warrant articles on the special town meeting warrant, while endorsing the Budget Balancing Committee’s recommendation to use $7.5 million in certified free cash to support the FY26 operating budget.
Commissioners said the Budget Balancing Committee met last week and, after school and general government reductions and conversation about OPEB, recommended $7,500,000 from free cash to balance the FY26 operating budget. The recommendation was approved unanimously by the BBC and communicated to the Finance Commission.
Commissioners and staff emphasized that the town holds roughly $20,000,000 in certified free cash. Using $7.5 million to support operations would leave approximately $12.5 million available…
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