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Treasurer reports $5.4M in special appropriations, audit extended and a projected undesignated balance of $5M–$6M
Summary
Finance Director Chris Calvert told the Board of Finance the audit deadline was extended to Feb. 28, 2026; special appropriations since June 30, 2024 total $5,406,771 with $2,217,222 expected to be reimbursed, and he expects undesignated fund balance between $5 million and $6 million.
At the Feb. 3 Board of Finance meeting, Treasurer and Finance Director Chris Calvert reported that the town's audit deadline had been extended to Feb. 28, 2026 and presented a summary of special appropriations and current financial posture.
Calvert said special appropriations since June 30, 2024 total $5,406,771, of which $2,217,222 is expected to be reimbursed. He noted other adjustments and said he expects the updated undesignated fund balance to be between $5 million and $6 million and that he is comfortable with that level. Calvert also flagged high overtime for the Department of Public Works because of snow and said a line-item transfer will likely be required; he indicated available sources for that transfer appear adequate.
Why it matters: the special appropriations and expected reimbursements materially affect the town's fund balance and budget planning ahead of upcoming meetings, including a scheduled BOE presentation on March 2. Board members were encouraged to submit questions about the BOE presentation in advance.
Next steps: Calvert will continue reconciling accounts ahead of the extended audit deadline and the board will prepare for the BOE presentation at the March 2 special meeting.
