Select Board and Finance Committee approve a series of fiscal year‑end transfers and reserve fund requests

The Select Board and the Finance Committee met jointly on July 8 to complete fiscal year‑end procedures and approved a series of interfund and reserve fund transfers to close out fiscal 2025.

Town staff and Jose (administration) walked both bodies through a packet of transfers. The board approved a motion to reallocate $58,000 from an energy supply account to cover mileage reimbursement ($10,000) and an electricity account ($48,000); the Select Board approved the motion unanimously and forwarded it to the Finance Committee, which also voted in favor.

Other transfers approved included a $3,000 transfer to cover assessing salaries, a $29,380 shift in the police budget from repairs and maintenance into clothing and uniforms for new hires, and a $15,000 transfer from tipping fees into the street lighting account. The boards also approved a $51,000 reserve fund transfer for seasonal salaries.

Jose explained a $78,000 reserve transfer that will be split across three accounts to cover group insurance ($60,000 to cover an identified $50,784 deficit plus encumbrances), workers’ compensation ($3,000) and government payroll taxes ($15,000). He said the group insurance shortfall reflects timing and multiple invoices for June and open enrollment fluctuations.

Most motions passed unanimously. Board members commended staff for keeping the approximately $79 million budget within a small variance heading into closeout and asked administration to provide supplemental spreadsheets and follow‑up details on some line items.