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Richmond opens public hearing on FY26–27 budget as council flags fund‑balance risks
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Summary
Town administrators presented a budget that holds education at roughly 74% of the package while trimming capital projects; councilors warned repeated draws on the town's fund balance could leave reserves low without restored state aid. The hearing remains open with a May 19 adoption deadline and a second public hearing set for May 5.
Richmond's town administrator presented the proposed fiscal year 26–27 municipal budget on April 13, laying out departmental reallocations and reductions while confirming deadlines for adoption.
The administrator said the package incorporates the education question voters approved April 7 and that the municipal portion currently reflects education at about 74% of the overall budget. He told the council that public safety spending is up about 1.76% and public works about 4%, while the municipality pared several capital-improvement projects (one line saw an 11.95% cut) and reduced some positions and benefits to limit the burden on taxpayers.
The presentation stressed timing: the council has a second public hearing on May 5, and May 19 is the last date to adopt the budget in time for ballots to be printed for the June 2 vote.
Councilors pressed staff on the budget's reliance on the fund balance. One member warned the current plan would require dipping roughly $1,000,000 this year and similar draws next year, which “puts us dangerously low” if state aid is reduced. The town administrator and finance staff said some of the draws pay operational school costs that cannot be avoided without going over the levy cap.
On wages, a councilor proposed trimming a proposed 3% increase for a set of municipal positions to 2.5% to spread sacrifices across departments; town staff said they would model the change and present numbers at the next hearing.
The council voted to open the public hearing on April 13 and later closed it by roll call; a second hearing is scheduled for May 5, and the town must adopt a final budget by May 19 to meet ballot-printing deadlines.
Why it matters: Richmond's budget decisions affect the level of municipal services and the town's financial cushion. Councilors signaled they will press the state for restored education aid to avoid further pressure on local reserves.
Next steps: Staff will return with updated numbers (including the proposed 2.5% wage scenario) at the May 5 public hearing; the council must adopt the budget by May 19 for the June 2 ballot.
