Select Board approves $795,000 transfer into new Special Projects Reserve fund

The Richmond Select Board voted to transfer $795,000 from unassigned funds into a newly created Special Projects Reserve fund, a move the board said preserves remaining ARPA‑era dollars for multi‑year projects. The motion was made, seconded and approved in a roll‑call vote during the Nov. 18 meeting.

Staff explained the reserve was established after voters at a Nov. 9 special town meeting approved creating the fund to support projects that enhance town aesthetics, public safety, wellness, and infrastructure including broadband. The board discussed amendments adopted at the town meeting that allow the board to temporarily borrow from the fund in a declared emergency (to be repaid upon FEMA reimbursement) and clarified that broadband remains an eligible use after an amendment removed water and sewer from the list.

"This motion would move that money now from the general fund into the special project Reserve fund which has essentially more or less the same restrictions on it as the ARPA money did," a staff presenter said when introducing the motion.

Board members voted in favor by name during the roll call. The transfer preserves funds already discussed for projects such as the town’s parks work and the pickleball courts, which the board said are already under contract and separately accounted for in a reserve if a contract were to fall through.

The board also reminded residents that the town will hold several budget meetings through December (with an additional special meeting scheduled for Dec. 9) to review the fiscal year 2026 budget before it goes to Australian ballot next March.

What’s next: The transferred funds will be held in the Special Projects Reserve account under the town’s accounting and used for eligible projects following the procedures discussed at the Nov. 9 town meeting. Staff will return with project‑level allocations and implementation details as proposals move forward.