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Fitchburg Housing Authority approves FY2026 budget after strong year-end reserves
Summary
The Fitchburg Housing Authority board approved the FY2026 budget and formally closed out FY2025 after a presentation showing a 51% reserve level, above the 35% state requirement. The board also reviewed staffing changes and program budgets included in the new plan.
The Fitchburg Housing Authority on Feb. 25 approved its FY2026 budget and formally closed out fiscal year 2025 after a financial review that showed the authority ended the year with a 51% reserve rate, above the state-required 35%.
Paul Pavia of Fenton, Ewald & Associates reviewed the FY2025 year-end financial results and the proposed FY2026 budget, describing the firm’s long working relationship with the Authority and outlining the budget components. Following Pavia’s presentation and discussion of staffing changes reflected in the new budget, the board voted to adopt the FY2026 budget (motion: Commissioner Bogner; second: Commissioner Hughes). The motion passed unanimously.
Chair Adam Goodwin and Executive Director Douglas M. Bushman participated in the discussion; Vice Chair Thomas Hughes asked for clarification about reserve calculations and other budget details. Pavia said the state-required reserve rate is 35% and that the Authority’s 51% reserve exceeds that threshold.
The board also approved a separate motion to close out FY2025 before adopting the new budget (motion: Commissioner Hughes; second: Commissioner Basilio).
