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Granby Board of Finance authorizes year-end transfers, budget amendments to close FY25-26
Summary
The Board of Finance on July 27 approved account transfers and budget amendments to close Fiscal Year 2025–26, moving $182,000 into a wage-settlement account and reallocating $177,000 to capital equipment and technology line items.
The Town of Granby Board of Finance voted unanimously July 27 to authorize year-end account transfers and budget amendments to close Fiscal Year 2025–26. The vote, 6-0-0, followed a presentation by Finance Director Kimi Cheng detailing recommended moves to address departmental overages and plan for known retirements.
Cheng recommended transferring $182,000 into the Wage Settlement/Sev account, funded from multiple payroll and professional-services lines, and a $41,000 move to Pension & Mission Square. The board also approved reallocating $177,000 of unused note-payable funds from the General Fund to the Capital Equipment/Improvement Fund to cover equipment and technology needs from FY24-25 and FY25-26. Cheng noted the Wage Settlement/Sev account balance was $46,311.99 as of June 30, 2026 and recommended the transfers to plan for two known retirements and potential additional retirements in FY26-27.
The motion to authorize the transfers was made by Thomas Proctor and seconded by David Demchak; the minutes record the board vote as 6-0-0. The Board of Selectmen must also approve certain transfers under the town charter; the selectmen are scheduled to take up related recommendations at their August 3, 2026 meeting.
