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Five-year forecast shows capital fund pressure; staff flags transfers to highway fund and options for new revenue
Summary
A preliminary five-year forecast presented March 19 projects a capital fund shortfall in later years, rising highway preservation costs and constrained surplus that historically funds CIP; staff said no new taxes were approved but options are being evaluated.
Town staff told the Budget and Finance Commission on March 19 that a five-year financial forecast indicates increasing pressure on the capital program and highway fund, driven by lower state-shared revenues and rising recurring costs.
“There are really three main issues causing the capital fund to go negative,” a staff presenter said, citing a decline in state-shared revenues, continuing inflationary pressure on personnel and O&M costs, and highway fund pavement-preservation needs that exceed HEERF revenues. The presentation showed the capital fund turning negative in year five of the forecast under current assumptions.
Staff said general fund recurring revenue growth…
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