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Buckfield reports FY26 spending under budget, stronger-than-expected revenues
Summary
Town staff told the select board the town spent about $5,289,000 in fiscal 2026 against an approved budget (packet shows 5.423) and did not draw on fund balance, noting revenue overperformance and several department variances. Staff flagged earned-time costs and insurance as areas for future budget adjustments.
Town finance staff presented the final fiscal-year 2026 numbers to the select board and budget committee, reporting roughly $5,289,000 in spending against an approved budget listed as 5.423 in the packet (presenter stated that equals about 97.5% of appropriations). Revenues were stronger than anticipated — roughly $174,210 more than estimates — and staff said the town essentially did not spend from fund balance after accounting for a rescue-reserve transfer.
Staff walked through department-level variances: the summer-roads paving project came in under budget, the fire department finished well under appropriation in some lines but rescue/EMS overtime and earned-time-related costs drove certain overages. The municipal finance officer said the general ledger setup (from a prior financial system migration) is being cleaned up and that auditors remain backlogged; the town will continue reconciling reserve and trust accounts and may propose budget adjustments in future cycles to account for mandated earned-time costs.
