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Select Board approves three-year contract for Finance Director Marie Almadova and adopts FY27 budget
Summary
The Select Board approved a three-year contract for Finance Director Marie Almadova with a $176,000 starting salary and approved the town manager's FY27 budget, which reduces the general fund by $367,641 and sets a total town budget of $106,442,430.
The Foxboro Select Board on March 31 approved a new three-year employment agreement for Finance Director Marie Almadova and adopted the town manager's recommended FY27 budget.
Town staff summarized the contract terms for Marie Almadova: an updated annual salary of $176,000, annual increases in years two and three of 3% tied to successful performance, vacation increases from four to five weeks with the ability to carry over and sell back one week, and expanded non-renewal/severance protections (severance language increased from three to six months). "That is in the middle of the market," staff said of the salary range.
Following discussion, a board member moved to approve the contract; the motion was seconded and adopted by the board.
In the subsequent budget presentation, the town manager said the general fund net decreased by $367,641 from prior estimates, citing savings including group insurance coming in at 6.82% (lower than earlier projections), a $30,000 reduction in SEMR costs, and $96,000 lower costs from Southeastern Regional School District estimates. The manager reported a total town budget, including enterprise funds, of $106,442,430, representing a 4.01% increase overall and a 3.8% increase for the general fund.
The board moved to approve the manager-recommended FY27 budget and the motion carried.
Staff did not list any immediate program cuts associated with the net decrease; they noted some specific increases (shared part-time central maintenance position, upgraded phone services for the joint public safety building, and adjustments for insurance and risk management). The board thanked finance staff and moved on to other items.
