Narrow majority backs transfer to Concord’s general stabilization fund after prolonged debate
Town Meeting approved a $193,584 transfer from free cash to a general stabilization fund despite Select Board objections and lengthy public debate about access, Moody’s ratings and the town’s free-cash availability. The Finance Committee supported the transfer.
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Anthony Ensaldi, the town’s chief financial officer, presented Article 19 seeking to appropriate $193,584 from free cash into a general stabilization (rainy-day) fund and explained Massachusetts law and best-practice reserve targets. Ensaldi and Finance Committee members argued the transfer increases the town’s reserve position and better aligns Concord with peer AAA-rated communities.
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