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Highland Beach advisory board hears unaudited FY2026 report and warns state homestead changes could cut millions
Summary
At a March meeting the Highland Beach Financial Advisory Board reviewed unaudited FY2026 figures and discussed a proposed state constitutional change expanding homestead exemptions that board members said could reduce town revenues by roughly $4.7 million under total elimination scenarios, forcing deep spending trade-offs.
Assistant Finance Director Matthews presented an unaudited budget‑to‑actual update for fiscal year 2026 covering Oct. 1, 2025–Jan. 31, 2026 and told the Financial Advisory Board that revenues and expenditures are tracking largely in line with expectations. “As of January 31, revenues total 13,500,000, representing approximately 73% of our annual projections,” Matthews said, adding that building‑permit and enterprise funds are performing within normal seasonal patterns.
Board members then focused on a proposed state…
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