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Hardwick proposes $4.74 million FY2027 budget; bond placeholder added for highway garage
Summary
The Hardwick Select Board presented a $4,741,600 budget for FY2027 — a 7.33% increase — driven chiefly by FEMA‑matched bridge projects requiring a 5% local match and a $150,000 placeholder for an anticipated highway‑garage bond; the bond vote will be separate and may come in May.
Chair called the informational town meeting to order and outlined a proposed FY2027 budget of $4,741,600, which he said represents “a 7.33% increase over last year.” He told attendees two main drivers explain the rise: the town’s local match on FEMA‑covered bridge work and a bond payment placeholder for a planned highway garage at the new emergency services complex.
The proposal assumes the town will provide roughly a 5% match on large bridge projects, with most costs covered by FEMA and state funding. “We are planning on, roughly 5% match to some big projects…we think are gonna total about 350 to 375,000,” the Chair said, and noted the budget preserves about $100,000 in a capital line for those contributions.
Board members and the audience also discussed a highway garage bond. The chair said the budget includes a limited, likely interest‑only payment as a placeholder and identified a $150,000 line‑item set aside on page 17 intended to start the bond repayment schedule. “We anticipate having to bond for the highway garage portion of that project…it's probably about enough to — I think it's an interest‑only payment the first year,” he said, and added the bond vote would be separate from the town meeting budget vote and tentatively hoped for May.
During public questions, resident Andrew Gilbert asked whether the town tracks total bond obligations and maturities; the chair confirmed the town assesses total indebtedness when seeking bonds and agreed that a visual chart of outstanding debt and maturity dates would help residents weigh new borrowings. Board members clarified that the town meeting vote is on the total budget amount, not on bond approvals. If the bond vote fails, the bond‑funded project would likely not proceed and unspent line items would remain in fund balances for future use.
The budget also assumes $50,000 in revenue from a local option tax, to be voted from the floor after the budget. That amount was listed in the revenue projections and will reduce the amount to be raised via property tax if the tax measure passes. The chair noted several routine cost drivers — health care and salary increases — in addition to the two major items already described.
The board encouraged questions at town meeting and highlighted outreach to grant and regional partners about alternate funding for the highway garage, including work with NVDA and exploration of the Northern Borders Regional Commission 'Timber for Transit' program for mass‑timber construction funding.
The Select Board adjourned the informational meeting to begin the regular session; the chair said the bond vote is separate and will be scheduled later if the project proceeds.
