Richmond Select Board adopts FY26 Capital Plan after brief public hearing

The Richmond Select Board voted to adopt the Fiscal Year 2026 Capital Plan at its March 17 meeting following a public hearing and presentations from Town Manager Josh Arneson and Finance Director Connie Bona. The plan prioritizes purchases of capital equipment, buildings and infrastructure and is structured to use restricted funds, reserves and tax revenues where possible to avoid borrowing.

Josh Arneson gave an overview, telling the board that the plan is an annual tool "to help plan for purchases of Capital Equipment buildings and infrastructure" and that it has been refined since budget sessions began in October. Finance Director Connie Bona noted that the town has used reserve contributions to avoid interest costs, estimating more than $1 million saved in interest over the past decade by paying cash for major purchases when feasible.

Board members asked about specific items and timing. Members noted long lead times for specialty vehicles and cruisers; staff said ordering windows exist (one week each year for cruisers was discussed) and that current lead times can be as long as 12–18 months for some vehicles. Members emphasized the capital plan should remain a guide and be revisited with new information next budget cycle.

After the discussion the board closed the hearing and adopted the FY26 Capital Plan by roll-call vote. Board members said department heads and finance staff put significant work into the plan and that the document will continue to evolve.

The adoption formalizes the town’s FY26 capital priorities and gives staff direction for reserve contributions and procurement planning; the board will revisit items as pricing and operational needs change.