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Norwood finance director reports positive year‑end; board approves four budget transfers
Summary
Town finance director Jeff O'Neil reported stronger‑than‑budget revenue and lower expenses overall, but recommended four year‑end transfers to address higher billing‑collection costs, election expenses, snow and ice overtime and increased waste disposal costs; the Select Board approved the transfers unanimously.
Jeff O'Neil, Norwood’s director of finance and town accountant, briefed the Select Board on year‑end budget adjustments at the July 8 meeting and asked the board to approve four intra‑departmental transfers tied to fiscal‑year closing.
O'Neil said overall revenue outperformed the original budget while expenses came in below budget, producing a favorable year‑end position. He described four specific transfers:
- Treasurer/billing collection expenses: an increase of $65,000 to cover higher billing collection‑agent costs; O'Neil said higher collection costs corresponded with increased revenue recovered. - Elections: an increase of approximately $23,000 to cover the cost of additional elections, printing and ballot mailings; O'Neil said the added expense was offset by additional state aid. - Snow and ice removal: an increase to cover overtime payroll for DPW employees who performed snow‑and‑ice work in‑house rather than using contracted services. - Solid waste/waste removal: an increase to $196,000 to reflect higher contract pricing and increased tonnage for curbside collection; O'Neil and other board members discussed recent multi‑year contract rate increases of 8–9% in coming years after earlier larger steps.
O'Neil said the town expects to close books for FY2025 to the accounting standard schedule (initial close around July 15 with some adjustments into mid‑August). He provided a ballpark estimate that the town could return roughly $500,000–$600,000 to the usual free‑cash number (he described this as a rough, preliminary estimate). O'Neil asked the board to sign the transfer paperwork so the finance office could finalize entries.
Board members pressed for detail on waste tonnage monitoring and asked whether increases would be recurring; DPW representatives said the town will begin monthly monitoring of tonnage to improve budgeting. Board members also confirmed that the snow‑and‑ice increases were overtime salary costs rather than contractual rate increases.
Action: Select Board member Dwayne Lane moved to approve the four year‑end transfers; the motion was seconded by Mister Donnelly and the board approved the transfers unanimously. The board authorized signatures on the transfer paperwork and directed staff to file final budget details with the Department of Municipal Finance per the FY close schedule.
