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Norwood CPC staff says roughly $3.7M–$3.8M could be available for FY27 projects
Summary
Staff reported current reserve balances and FY27 revenue expectations that together suggest roughly $3.7M–$3.8M may be available for Community Preservation appropriations next fiscal year.
At the Nov. 19 Community Preservation Committee meeting, committee staff provided an overview of FY26 balances and FY27 revenue expectations to inform upcoming funding decisions.
Staff reported the following reserve balances after FY26 closeouts were discussed: open space and recreation reserve just over $29,000; historic reserve just over $111,000; community housing reserve just over $57,000; and an undesignated fund reserve of about $2,300,000 prior to year-end closeouts. Staff said interest earnings and other year-end adjustments could raise the undesignated reserve to an estimated $2.5M–$2.8M.
Estimated FY27 revenue was described as likely to exceed $1,000,000 (staff cited about $1,050,000 as last year’s expectation), driven largely by the surcharge and a state match. Combining the estimated undesignated balance and FY27 revenues, staff said the committee could be looking at roughly $3.7M–$3.8M available to appropriate for projects in FY27, subject to final reconciliation and confirmation from the finance director.
