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Council approves August financials while managers cite a $500,000 severance shortfall
Summary
Interim manager Lisa Perring reported a projected severance shortfall of more than $500,000 that will constrain budgets; the council approved August 2025 financial statements by voice vote.
Interim manager Lisa Perring told the council that the general fund looks better but that the town faces a ‘‘shortfall of over over 500,000 in severance’’ tied to state budget changes that may persist for years, and that the town will need to be conservative across funds. She said the gas fund showed a negative balance due to capital spending that will normalize after reimbursements later in the year.
Councilmember Todd Bank moved to approve the August 2025 financial statement and Sean Morgan seconded; the council voted aye and the motion carried. Perring noted reimbursements tied to RDA/RDC grants are expected in the coming quarter, which should improve fund positions.
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