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Finance director gives year-end snapshot; capital projects remain unfinished
Summary
Berlin’s finance director reported a preliminary FY26 snapshot showing revenues below budget for some funds and roughly $7M in uncompleted capital projects; the electric fund is tight due to higher purchase power costs and an AMI metering project was completed with grant funding.
Natalie Soleil, the town’s finance director (Speaker 1), presented a year-end overview showing the general fund budgeted approximately $17 million in revenues and noted $7 million in capital projects not yet completed.
"For fiscal 26, we have budgeted revenue $17,000,000... we have not completed almost $7,000,000 in capital projects," Soleil said, characterizing current figures as preliminary because close-out adjustments and grant receipts remain outstanding. She highlighted that a portion of the revenue budget includes loan proceeds for a public works facility and that restricted and committed balances exist for specific programs.
Councilors focused questions on the electric utility and water funds. Staff said the AMI metering project is completed and grant-funded, but the electric fund’s margin is tight because of increased purchase power costs and possible upcoming rate-study requirements. For water, a lead-replacement program is planned and staff expects approximately $2 million in grant/loan receipts for that project but had not yet drawn those funds.
