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Durham reports roughly $993,000 underspending for 2025; reserves about $4 million pending audit
Summary
Business Manager Gail Jablonski told the Council the town closed 2025 with expenses at 96% of plan leaving approximately $993,000 unspent to roll into the general fund; preliminary reserve figures are about $4 million ahead of the audit, and taxes were 96% collected as of Jan. 12, 2026.
Business Manager Gail Jablonski presented Durham’s unaudited End‑of‑Year Financial Report for 2025 and said the town finished the year with expenses at about 96% of budget, leaving roughly $993,000 to add to the general fund.
Jablonski said the town had collected about 96% of property taxes as of the Jan. 12 due date and that parking and Depot Road lot revenues were up, contributing to the positive outcome. She said some figures remain subject to audit adjustments, and the Eversource abatement refund is being held pending an appeal, which affects final fund‑balance calculations.
On reserves, Jablonski gave historical reserve levels (pre‑audit) as $7.7 million for 2023, $4.5 million for 2024 and approximately $3.5 million for 2025 but added that expected savings compared with the 2025 budget will roll into reserves and the town anticipates a post‑audit reserve of roughly $4 million, which falls within the town’s 5–8% reserve policy target.
Council discussion focused on state funding reductions (retirement contributions, rooms‑and‑meals tax) and how those shifts increase pressure on municipal budgets. Councilor Wayne Burton and Administrator Todd Selig highlighted the loss of state retirement contributions as an important driver of higher local costs.
What’s next: The report is unaudited and staff will present final numbers once the audit is complete; no vote was required on the presentation.
