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Wayne discusses capital reserves: fire-truck replacement and multi-year roads plan expose shortfall
Summary
Select Board reviewed capital reserve balances, a fire-truck replacement timeline and a multi-year roads plan. Officials reported a fire-truck reserve of roughly $353,000 and estimated this summer's paving needs at about $656,800, leaving an immediate funding gap of roughly $187,000 before next-year appropriations.
At its meeting, the Town of Wayne Select Board spent significant time on budget planning, focusing on capital reserves for the fire department and an itemized multi-year roads program.
Why it matters: The town manager and fire chief outlined rising equipment costs and a multi-year pavement plan that together create a short-term funding gap. How the board addresses that gap will affect whether planned paving and vehicle replacements proceed on the town’s preferred timeline or are deferred or bonded.
Fire apparatus: The fire chief said Wayne follows a roughly 10-year replacement cycle for front-line trucks so each vehicle can have a useful lifetime of about 40 years. The chief reported the fire-truck reserve balance as $353,000.988 (as reported in the meeting). He noted replacement costs…
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