Narragansett Towers budget stays largely flat as committee seeks to rebuild fund balance

David, speaking for the Towers Committee, presented the committee’s fiscal year 2026 budget and described it as largely consistent with the prior year. He said the total Towers budget is about $390,000 and that the committee expects to rely on a $50,000 appropriation from the general fund primarily for capital work and to restore the towers fund balance to pre‑COVID levels.

David said the committee changed its table and chair program so the town owns the tables and chairs. That change reduced gross revenue but eliminated a rental expense and increased net income; he noted the rental expense line was previously $5,029 (as read in the packet). He said last year’s rental budget was $12,000 and this year’s was set at $8,000, which he expects is likely higher than actual need.

He described the committee’s operating policy: operating revenue covers 100% of operating costs and any surplus is used for capital projects. David said the committee forewent the $50,000 transfer in the past when the fund balance was healthy, but COVID drained reserves and the appropriation was restored. The committee has a stated priority to identify a target fund balance to cover unforeseen events, but David said, “We have not completed that task yet.”

Councilors praised the Towers Committee’s volunteer-run operations and asked about near-term capital needs. Committee members listed likely work including courtyard and fountain plumbing and masonry repairs, third‑floor refinishing, lighting improvements in the attic, repainting blue trim, and new exterior security cameras. The committee also said it is considering ornamental lighting for the cupola.

Ending: The Towers Committee will proceed with planned capital maintenance and said it will return to the council with specifics once the committee completes its fund-balance targets and capital prioritization.