Comptroller reports roughly $21 million in combined surplus projections but an expected $2–3 million year-end deficit after interim appropriations

Comptroller Joan Lynch and Budget Director Agnes Cawai told the Budget Committee on May 12 that, through April 30 and the nine months ended March 31, Greenwich is tracking favorably on several revenue lines and projecting a combined surplus near $21 million for FY26, but that interim appropriations and BOE use of non-lapsing funds leave a projected year-end deficit of approximately $2–3 million.

Notable revenue variances through March 31 included building permits favorable to budget by about $2 million (with an additional $243,000 collected in April) and conveyance tax favorable by $769,000 (with roughly $1.2 million additional in April attributed to sales of Greenwich Place and Greenwich Oak). Filing fees were favorable by $473,000 (plus another $99,000 in April). Interest income was currently unfavorable but the town had collected $7 million through April 30, matching the FY26 budget; staff project interest to meet budget by year-end. Municipal solid waste tipping fees and permit fees continued to trend unfavorably on both the revenue and expense sides.

On the expense side, total surplus was estimated at approximately $12.5 million, including about $6 million in healthcare savings versus budget; total estimated revenue surplus was approximately $8.5 million, for a combined surplus estimate of just under $21 million. Ms. Lynch noted that Nathaniel Witherell's census remains in the low 150s and is not expected to improve materially before year-end; TNW staff and board members will appear before the full BET in July.

Chair Erickson reminded members that, per BET policy, uncommitted appropriations revert to the Town Treasury unless the BET approves continuation for an additional year and flagged several open capital projects for review in June or July.