Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget topic
No spam. Unsubscribe anytime.
Select Board approves roughly $405,700 in FY24 year‑end transfers to cover deficits
Summary
Finance staff told the board it would reallocate surplus lines (notably group insurance savings) to cover FY24 deficits in several departments; the board approved the town‑manager transfers by roll call.
Town finance staff presented a year‑end closeout June 18 and proposed interdepartmental transfers to cover FY24 deficits totaling approximately $405,700.
Marie (finance) told the board the town projected remaining payroll and other outstanding expenses and identified surpluses in budgets such as group insurance and some salary lines that could be used to cover shortfalls. Items listed for coverage included central maintenance ($60,000), police equipment payment (body cameras; $49,435), fire apparatus repairs ($60,000), snow & ice deficit and other smaller deficit lines; Marie said the group insurance budget had an unusually large surplus this year due to vacancies and would absorb much of the year‑end transfers.
Members asked whether the transfers were typical and whether any amounts would recur in FY25; staff said some items (for example, the body camera lease payment and apparatus repairs) would be addressed in future budgets and that fall town meeting language might be needed to adjust ARPA funding sources for lease‑style payments.
The board approved the town manager transfers by roll call.
