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Finance team lays out fund balance, CIP and choices on issuing debt for town priorities
Summary
Finance staff presented fund balance growth, committed restrictions and a $371M CIP request list; staff urged prioritization, explained constrained funding choices (grants, debt, payback sales tax) and cautioned against letting fund balance fall too low for operational resilience.
Finance staff gave a detailed briefing on the town’s fund balance, outstanding debt and a multi‑year capital improvement plan at the Jan. 30 retreat.
Speaker 5 reported that the town’s fund balance rose from roughly $59.6 million in FY2022 to about $86.7 million in FY2025 but stressed that large portions of that sum are restricted or committed (state stabilization, tourism, stormwater, escrows). Staff walked the board through restricted categories and the 'unassigned' policy target (40% of general…
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