Sudbury Housing Authority approves budget revision, transfers and routine financial reports

The Sudbury Housing Authority voted to accept a budget revision proposed by the authority’s accountant and approved routine financial items, including outstanding checks and the quarter‑3 financial report.

The accountant said the revision removes two administrative positions that were not held for the year — an occupancy coordinator and a bookkeeper/office assistant — and that salary lines will be restored in the FY2026 budget. She also said the executive director received a one‑time payment from vacancy initiative funds that must be recorded in the budget; the accountant identified that payment as $5,352 and said it was paid in December.

The accountant reported changes in maintenance staffing and updated labor rates that came in lower than earlier estimates. She said property insurance rates bid by the state rose substantially, increasing the insurance line in the revision, while employee health‑insurance projections were lowered because the authority was not fully staffed. Electricity costs were reported higher than projected; the accountant said the authority pays its heaviest utility bills in the last three months of the fiscal year and adjusted the budget based on current spending, which increased the subsidy by roughly $6,000.

Board members asked about a line described as a transfer from a restricted reserve. The accountant explained that the authority previously set aside funds in a restricted reserve for future capital work; she requested moving that money back into unrestricted reserves, and pointed to the balance sheet row labeled “net assets restricted” in the packet as the source of the transfer.

A board member moved to accept the budget revision as proposed by the accountant; the motion was seconded and carried on a voice vote of those present.

The board then reviewed checks that appeared in the packet, including a $99,000 payment to CVS for work tied to the fire‑alarm project and a $6,000 payment tied to Cambridge for billing related to a development project. A board member moved and another seconded approval of the checks; the board approved them.

Separately, the board voted to accept the quarter‑3 financial report. The accountant said she usually uploads the financials to the state system after board review; she noted the packet showed an outstanding reimbursement question of about $27,000 that might not be reimbursed and could require using reserves if the state does not reimburse those projects. The board approved the report by voice vote.

The authority’s chair and staff said they will bring a FY2026 proposed budget to the March meeting and continue reviewing staffing and contract items alongside the budget process.

Ending: The authority scheduled the FY2026 budget discussion for March and closed the items under finance after the votes.