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Norwood finance director: general‑government budget projects 5.4% increase; free cash near $29 million
Summary
Finance Director Jeff O’Neil told the selectmen the town’s general‑government budget is projected to rise about 5.4% for FY26, building‑permit revenues have cooled and free cash currently sits around $29 million; the board agreed to continue budget review with the budget‑balancing committee.
Jeff O’Neil, Norwood’s director of finance and town accountant, told the Board of Selectmen on Feb. 25 that the town’s general‑government budget as initially presented is projected at about a 5.4% increase for fiscal year 2026 and that the town’s free‑cash balance currently is “right about 29” million dollars.
O’Neil said investment income has outperformed initial estimates because interest rates stayed higher than expected, but building permit revenue that boosted recent free‑cash balances has slowed and will likely remain below the extraordinary recent…
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