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Staff projects FY26 close with fund balance roughly at 15.3% of budget
Summary
Finance staff reported favorable revenues and an estimated unassigned general fund balance of about 15.31% as of July 1, aligning with the town's 15% policy and reflecting approved transfers and the recent OPEB appropriation.
Finance staff presented an updated projection for the end of fiscal year 2026 that incorporates the transfers and budget amendments approved during the meeting. Kimmy reported favorable revenues roughly $2.4 million over budget and estimated an unassigned general fund balance of about 15.31% as of July 1, which aligns with the town’s 15% target.
Kimmy cautioned that tuition revenues from other towns remained short and would improve projections if collected. She noted prior additional appropriations and transfers into OPEB and said the projection reflects those actions; the board discussed the GFOA standard and the possibility of bonding in the coming years, with staff advising how bonding would be phased to maintain stable debt service.
