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Finance commission urges cautious use of $24.9M free cash, recommends reserves
Summary
The Norwood Finance Commission presented a detailed analysis of an unprecedented $24.9 million free cash balance and recommended moving $2.0 million to a capital stabilization fund and fully funding the special-education reserve amid concerns about a structural deficit.
The Finance Commission opened the special town meeting with a detailed presentation on the town’s fiscal picture, noting a historically large certified free cash balance of roughly $24,900,000 and warning that the figure is not sustainable as a recurring revenue source.
Chairman Sullivan told town meeting that the commission had used certified figures and a recently completed capital plan to evaluate requests. The commission reported using $7,500,000 of free cash to balance fiscal year 2026 and said it expects to rely on more than $10,000,000…
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