Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance topic
No spam. Unsubscribe anytime.
Treasurer briefs selectmen on preliminary FY26 results; surplus estimated in low millions
Summary
Finance staff presented preliminary fiscal-year-end results and identified a surplus in the low millions; staff recommended reallocating some over-allocated funds and explained timing for returning or moving monies to capital nonrecurring.
Leanne (speaker 2), the town finance official who presented the fiscal-year-end memo, told the Board of Selectmen that preliminary results show a surplus in the low millions and outlined recommended transfers. The memo described prior ARPA reallocations that may have double-counted certain items and proposed returning $100,000 to capital nonrecurring and $150,000 to town surplus from the library allocation as a partial correction.
Finance staff also summarized routine year-end transfers, noted an anticipated $50,000 return to the general fund from outside-services underspending, and described a $81,000 transfer into the police vehicle reserve account. The treasurer and finance director urged caution about the timing of using surplus for large capital projects and explained the town's practice of returning unused project funds to surplus or capital nonrecurring accounts.
