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Selectmen adopt special-fund policies; town manager cites roughly $7 million in restricted funds
Summary
The board approved seven special-revenue-fund policies with small edits, instructed annual review of certain reimbursements, and agreed to revise wording (e.g., the Fox Fund amount to 'approximately') so the budget books reflect fund restrictions and uses.
The Board of Selectmen voted to adopt documentation for seven special-revenue funds with the edits discussed during the meeting, including tightening language for the Fox Fund and removing two illustrative sentences from the Holcomb Farm stewardship fund purpose.
Town manager emphasized the importance of transparency and said the funds together represent "about $7,000,000 of funds across these funds," adding that many of the funds are restricted and the policies will clarify how they can be used. The board directed that reimbursements (such as a $60,000 reimbursement mentioned for 2026) be described as subject to annual review rather than automatic ongoing payments.
Board members agreed the policies provide a single reference point for residents to understand fund purposes and constraints and approved the documentation after a motion and second.
The policies will be incorporated into budget books and posted for public review; the board noted the documents remain amendable in future budget cycles.
