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CPC reports healthy balances as project pipeline grows; $3.2M available
Summary
Committee staff reported about $1.5 million in revenue year-to-date and approximately $3.2 million in unencumbered CPA project funds after current obligations. Members discussed grant reimbursements, closed accounts, and prioritized surveys and rescoping for several projects.
Bridgewater’s Community Preservation Committee received a financial update June 24 showing robust year-to-date revenue and several active projects requiring near-term procurement and surveying.
Town staff reported roughly $1.5 million in income for the year and said the real estate surcharge revenue is about 16% above what was budgeted. After deducting project encumbrances, the committee was told approximately $3.2 million remains available for CPA projects. A $73,500 grant reimbursement will be moved into a specific project budget (Styles and Hart improvements), and closed accounts for the Keith Homestead and Edson book will no longer appear on the expense ledger.
Why it matters: Members noted a healthy balance positions the CPC to advance multiple projects this summer but cautioned that a steady pipeline of applications and procurement timelines (some estimated at 35–45 days) will consume available funds if several large scopes proceed.
Project implications: Committee members discussed work that will require surveying and rescoping (Styles and Hart improvements, multifunctional fields) and heard that some project funds will carry into FY27. Staff said some projects have been delayed and that survey results will drive RFP timing.
Next steps: Staff will present a full balance update at the July meeting after end-of-fiscal-year adjustments on June 30 and will circulate procurement schedules for projects moving to RFP or proposal stages.
