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Commission hears draft recession plan with staged triggers; staff to refine leading indicators
Summary
Staff presented a draft recession plan that sets revenue‑shortfall stages (minor up to 2%, moderate 2%–4.99%, significant 5%–9.99%, crisis 10%+) with recommended actions; commissioners asked for clearer leading indicators, stakeholder engagement plans and explicit ties to reserve use.
At the Feb. 17 meeting, town finance staff presented a draft recession plan that lays out thresholded stages for revenue shortfalls in the general fund and proposed responses at each stage. Staff described four buckets—minor (up to 2%), moderate (2%–4.99%), significant (5%–9.99%) and crisis (10%+, with 15%+ described as severe)—and said the plan is intended to guide staff action and be refined with…
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