Finance committee flags snow‑removal shortfall and COVRRA costs as budget risks

Interim Finance Director Cherie Trahan told the Coventry Town Council Finance Committee on March 9 that the February financial report is not yet available and that snow removal costs have pushed the town’s budget toward a shortfall, with a line‑item projection of about $115,000 over budget. "As payments are made, encumbrances are drawn down," Trahan said, describing how the town is accounting for contracted waste services.

Trahan reported COVRRA expenditures excluding encumbrances at $838,515 and noted the committee’s observation that expenditures approaching $800,000 at midyear will largely offset the general fund balance of about $766,000. She said electricity and gas contracts are locked in through December 2027, with electricity under a four‑year contract, which the committee viewed as stabilizing some operating costs.

Chairwoman Robyn Gallagher asked whether the EMS transfer had been completed; Trahan said it had not and that she prefers quarterly transfers but would complete the transfer this month so the town’s fiscal position is clearer. The committee confirmed the town can transfer only the amount necessary rather than automatically transferring the full referendum amount.

The committee pressed for more timely reconciliations. Trahan said the finance office is working through bank reconciliations and outstanding Board of Education paperwork, expects revenues to be current by the end of the week, and anticipates transfers wrapped up in about two weeks. The committee asked Trahan and Town Manager James Drumm to prepare clearer comparative reporting on per‑employee contributions and the historic use of reserves between the town and the Board of Education prior to the full council budget discussion.

The meeting concluded with the committee directing staff to deliver the updated February financial report and reconciliation details to inform upcoming budget deliberations.