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Finance Commission: Second-quarter FY25 report shows revenues mixed; investment income up
Summary
Commission heard a finance staff presentation showing investment income above earlier projections, building‑permit revenue slower than prior years, and several expense categories to watch including ambulance collection fees and traffic control labor.
The Finance Commission reviewed the town's second‑quarter fiscal 2025 financial report and heard that overall revenues were slightly ahead of budget projections in some areas while building‑permit and development receipts remain slow.
Finance staff member Jeff summarized the key drivers, saying higher interest rates have increased investment earnings and that of roughly $3,000,000 in a noted project pool, about 28% (about $1 million) is attributed to a single source the staff identified as “COBRA,” an amount that is expected to decline as project activity changes. Jeff said…
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