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Select Board approves $412,193 in FY26 year-end transfers to cover departmental overages
Summary
Town accountant Michael Buckley outlined six transfers totaling $412,193 to close FY26 deficits (law, buildings, police overtime, vehicles, fire, insurance). The board approved the transfers, funded largely from a health-insurance surplus.
Michael Buckley, the town accountant, asked the Select Board to approve six year-end transfers totaling $412,193 to cover shortfalls in fiscal 2026, which ended June 30. He said the requests include $31,008.51 for legal special counsel, about $120,410 for town-building repairs and utilities, $51,006.99 for police overtime, roughly $25,097 for vehicle overages, $159,005.36 for fire department expenses and approximately $2,007.19 for insurance. "We have a surplus in health insurance to go into these," Buckley said, explaining the transfers will not jeopardize the town's general fund going forward.
Board members asked clarifying questions about whether the transfers draw on current-year funds or prior surpluses; Buckley confirmed the transfers apply to fiscal 2026 and are funded by a health-insurance surplus attributable to lower-than-expected employee contributions. A member moved to approve the year-end transfers as presented for a total of $412,193; the board voiced its approval without recorded opposition. The transfer approval allows departments to close FY26 with balanced ledgers and directs staff to implement the budget adjustments for accounting and audit records.
