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Town updates sewer relining, capital plans; staff to refine costs
Summary
Finance staff told the advisory board the sewer relining project has been re-scoped and budgeted near $1.4–1.6 million for current work; staff also reviewed fund cash positions and suggested moderating capital spending pending the outcome of a proposed state amendment.
Finance staff discussed progress on capital projects and the sewer relining program during the Financial Advisory Board meeting. David said the town budgeted approximately $1.6 million for this year's sewer relining activity and that the project had been re-scoped since earlier planning rounds.
"Right now we budgeted this year our budget for that project's about 1.6," David said when reviewing current-year assumptions and the fund-level impacts. Staff added that earlier project estimates had been higher in preliminary planning but that engineering and contracting efforts reduced the current-year cash need.
Board members noted the project has been minimally disruptive so far and asked staff to provide final contract costs, timing, and any contingency assumptions. Staff committed to follow up with a written cost summary and to circulate a comparison to earlier plan numbers.
As part of the capital review, staff also briefed the board on fund-day cash and reserves: the building fund reportedly holds more than 500 days of cash on hand, while the general fund shows about 90 days of unassigned cash once restrictions are accounted for. Staff urged the board to consider whether to recommend pausing large one-off capital commitments until the state policy picture clarifies over the next two to three years.
