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Comptroller reports preliminary FY26 surplus and strong pension returns
Summary
Comptroller Joan Lynch told the BET preliminary FY26 shows a general fund surplus just over $2.0M and the pension plan returned about 11.04% (market value $753.5M), with final numbers due in September/October.
Comptroller Joan Lynch presented a preliminary fiscal‑year update, saying early estimates indicate a general fund surplus of just over $2,000,000 for FY26 and noting the general fund invested cash balance on June 30, 2026 was $149.4 million, about $7.5 million lower than June 30, 2025 largely due to payroll timing. "We're currently in the process of closing the fiscal 26 year end with early estimates indicating a general fund surplus of just over $2,000,000," Lynch said.
Lynch highlighted returns for the town's retirement portfolio, reporting an approximate FY26 return of 11.04% and a plan market value of $753.5 million as of June 30, 2026 (up from $693.2 million a year earlier); she said those results will positively affect the town's unfunded actuarial accrued liability and ADEC and that final actuarial figures will be available in October. Lynch also noted ARPA spending priorities (mostly sewer projects) and flagged sharp increases in server/memory prices that may affect some IT purchases. The board accepted the comptroller's report by motion.
