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Yarmouth finance panel approves $502,967.88 in budget transfers to cover vacancies and benefit shortfalls
Summary
The Town of Yarmouth Finance Committee approved 14 budget transfer requests totaling $502,967.88 on June 24, citing salary savings from vacant positions and lower insurance premiums as primary funding sources.
Richard Simon, elected chair at the start of the June 24 meeting of the Town of Yarmouth Finance Committee, presided as the panel approved 14 budget transfers totaling $502,967.88 to cover shortfalls across town departments.
Finance Director Jennifer Mullen presented the transfer requests and the committee approved each by voice vote, 8-0. The transfers included $29,500 for IT; $5,000 for parks and cemetery; two highway transfers of $50,000 and $85,000; $15,000 for facilities; $60,000 for golf enterprise fund needs; two police transfers ($34,500 and $20,000, the latter labeled as police); two fire transfers ($4,467.88 to capital and $60,000 to operating); $14,000 to natural resources; $50,000 for Medicare; $50,000 for police overtime; and $55,000 for veteran benefits. The full list and movers/seconders were included in the meeting packet.
Mullen told the committee the town drew on several sources to cover the transfers: approximately $333,500 in salary savings from positions that remained vacant while recruiting; lower-than-budgeted workers' compensation premiums (about $50,000); lower Police/Fire group insurance premiums (about $60,000); and $55,000 from the Finance Committee Reserve to cover the town’s share of benefits paid directly to veterans. She said FY26 and FY27 budgets had been set based on historical expenditure levels and characterized some FY26 actuals as extraordinary but eligible for reserve use.
The motions to approve each transfer were moved and seconded by committee members (see meeting record for specific movers and seconders) and each passed by voice vote, 8-0. Committee members who moved or seconded motions on the transfers included George Perkins, John Anderson, Robert Harding, Nate Ladley, Alyssa Mullin and Connie Wright.
"I'd like to welcome our two new committee members, Danielle Lee and Connie Wright," Simon said earlier in the meeting as he opened the session.
The committee did not take further fiscal action at the meeting; Mullen said she would provide a fuller update at the next meeting and that members should receive the May FY26 financial reports from the town accountant.
