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Jefferson Select Board to place excess tax collections into town surplus; preliminary 2026 budget work under way
Summary
The Select Board said excess funds collected because of a higher school budget will go into the town surplus (not returned to the school) and may be used to offset the 2026 mil rate; staff noted preliminary work on the 2026 budget has begun and the board approved two expense warrants totaling $169,071.83.
The Jefferson Select Board on Nov. 17 agreed that excess tax collections tied to a higher school budget will be deposited into the town's surplus fund, and discussed using the funds to offset the 2026 mil rate.
Resident Bill Farren asked the board what would happen to the excess funds collected after the town had to use a higher school budget figure than actually passed. The board indicated the extra funds will go into the town's surplus, not be returned to the school, and said possible uses — including reducing the 2026 mil rate — will be discussed at a later meeting. The board did not adopt a final plan during the session.
Donna Williams asked when the board would begin work on the 2026 budget; staff member Lynne said preliminary budget work has begun. The board also approved town expense warrants in the amounts of $82,219.15 and $86,852.68.
The board did not specify the legal mechanism or timeline for applying surplus funds to the 2026 tax rate; members said a further discussion is planned.
