Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget topic
No spam. Unsubscribe anytime.
Selectmen approve $109,437 transfer to cover higher workers' compensation premiums
Summary
The board authorized a $109,437 in‑series transfer for FY26 to cover higher-than-budgeted workers' compensation premiums and related retiree benefits after a state-required payroll audit increased the town's premium exposure.
The Board of Selectmen approved an in-series transfer of $109,437 to cover higher-than-expected workers' compensation premiums, retirees' benefits, and reimbursements.
Kim Allen, Director of Finance, told the board that the premium variance resulted from the annual payroll audit the state requires to align payroll records with workers' compensation exposure: "The premium that was not budgeted is because annually, they do an audit on our payroll for workers' comp… It's a requirement by state law to do that audit." Allen said the audit found differences that increased the premium obligation.
After questions from selectmen, the board approved the transfer on a voice vote. The finance office will record the transfer in FY26 accounts and proceed with any necessary reporting to state auditors.
