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Council asks for four rate scenarios as water and sewer fund faces debt-service pressure
Summary
Finance staff showed that removing volatile interest revenue exposes an operating shortfall and ongoing debt-service pressure in the town’s utility fund; council asked staff to present four FY27 rate/budget scenarios and signaled that any approved budget must cover debt service.
Finance staff (Barry) presented an apples-to-apples look at water and sewer revenues and operating expenses and noted that bank-interest income and one-time ARPA timing had masked earlier shortfalls. With interest earnings falling, staff said operating revenues now struggle to cover debt service; the council discussed how to address the gap as part of FY27 budget work.
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