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Richmond Select Board adopts FY27 capital plan after staff updates on highway equipment timing
Summary
After a public hearing, the Select Board adopted the FY27 capital plan, adjusting timing and costs for several highway vehicles and confirming positive reserve fund balances across the 15-year projection.
The Richmond Select Board on March 16 closed a public hearing and voted to adopt the town's fiscal year 2027 capital plan as presented. Staff highlighted timing shifts for multiple highway vehicles and updated trade‑in values; the green reserve‑balance line in the plan remained positive in long‑range projections.
A staff presenter said the town had moved away from debt financing for larger equipment and instead is building reserve funds to purchase heavy equipment with cash. Specific changes included adjusting the cost and fiscal-year timing for dump truck #2, moving another dump truck and associated plow package to FY27, shifting pickup truck #5 to FY27 and bringing tractor mower/loader #12 into FY26 because it became available earlier than expected.
After the presentation and brief board questions, Select Board member David moved to adopt the FY27 capital plan; the motion carried by roll call. The board asked that final documentation be published and that reserve funds and schedules be monitored going forward.
