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Finance Committee approves nearly $1.3 million in FY26 budget transfers
Summary
The Maynard Finance Committee voted to approve FY26 year-end budget transfers totaling just under $1.3 million to cover overspent accounts, citing vacancy savings, overtime, reduced solar credits and rising utility and insurance costs.
The Maynard Finance Committee voted to approve FY26 year-end budget transfers totaling "just under $1,300,000," following a presentation from Kevin Peterson and a brief committee review. Chair Jillian Prendergast said the transfers and supporting documentation were posted to BoardDocs for transparency and discussion.
Peterson told the committee that "Overall, we ended the year with about little over $1,000,000 in unexpended funds," and identified drivers of transfers including firefighter holiday overtime and retirements, unrecovered payroll encumbrances from vacancies (including the assessor position), higher health insurance costs and the loss of some solar-farm credits. He said he prioritized transfers where accounts were overspent by at least $5,000 to make departments whole for transparency.
Committee member Linda moved to approve the FY26 transfers "as presented by Kevin Peterson tonight in this spreadsheet," the motion was seconded and passed on a roll-call vote. The chair confirmed the transfers were approved and asked Kevin whether any signature or form was required to finalize the transfers; Kevin said he would check precedent and follow up with staff.
