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Merrimac Finance Committee advances budget with 2% maximum COLA, leaves $30,155 gap
Summary
The Merrimac Finance Committee voted March 11 to move the Finance Director’s budget recommendation — including a 10% reduction guideline (exempting mandatory fees) and a maximum combined 2% COLA/merit — to Town Meeting, leaving an estimated $30,155 deficit to be resolved by Fall Town Meeting.
The Merrimac Finance Committee on March 11 voted to advance the Finance Director’s recommended budget to Town Meeting, endorsing a 10% reduction guideline (excluding mandatory fees) and capping combined cost-of-living and merit pay increases at 2%. The committee recorded a remaining budget shortfall of $30,155 after applying the recommended adjustments.
Thomas Ackerman, committee member, was recorded as the mover on earlier procedural motions approving prior meeting minutes, and Michael Marden, committee member, as the seconder; the later budget motion was recorded and set for vote. The minutes reflect AYES from Marcia Zosack, Thomas Ackerman, Michael Marden, Michael Bevilacqua, David Olds and Corey Cane with David Luoma absent for recorded roll calls.
The recommendation page presented to the committee assumes flat revenue projections and retains a planning assumption for health insurance increases that management estimated could range from 15% to as high as 17%, though committee records note a more recent projection of an 8% increase for school-related insurance costs. The committee also noted that the omnibus $344,000 deficit figure includes the new school budget numbers, and that the School Department has voted to cut its budget by $825,000.
Finance staff told the committee the town may present a budget to Town Meeting showing a deficit because adjustments can be made before Fall Town Meeting. Committee members discussed the need to monitor insurance plan choices by employees and the possibility that lower-than-expected insurance increases could reduce the town’s projected costs.
The committee also agreed to reschedule a follow-up meeting from March 12 to March 16 to allow staff to update budget sheets and special-article language ahead of Town Meeting. The meeting adjourned at 5:51 p.m.
The committee did not enact overrides or final tax-rate decisions on March 11; further action is scheduled as staff provides updated revenue and expense figures.
