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Bridgewater reviews CPA reserve accounts, state match and Hansen Farm plans
Summary
Committee heard a presentation on Community Preservation Act (CPA) revenues, a state match deposit and planned projects; the presenter said the CPA balance is roughly $4.3 million with about $1.1 million committed, leaving roughly $3.2 million uncommitted to target housing, open space, historic and recreation projects.
The Budget & Finance Committee received a presentation on Community Preservation Act (CPA) reserves and projections for FY2027, including state match deposits and dedicated allocation rules.
A presenter explained the CPA surcharge (2% of the assessed value subject to a $100,000 exemption) funds the program and that the town estimates revenues conservatively. For the current year, the presenter said the state deposited about $167,000 and noted interest added roughly $750,000 to receipts. The CPA requires minimum set-asides (10%) for community housing, historic preservation, and open space/recreation; the committee typically allocates the minimum and places excess into an undesignated reserve.
Committee members discussed public confusion about how the CPA surcharge appears on tax bills and whether ballot actions (overrides) could change rates. The presenter said the CPA fund balance was about $4.3 million with roughly $1.1 million already committed to continued appropriations, leaving about $3.2 million uncommitted. Members said some of the uncommitted funds had been considered for the Hansen Farm purchase and related projects, and that the committee will continue vetting project proposals.
Members asked for clarity on CPA accounting and public communications; the committee recommended the CPA reserve plan as presented.
