Finance Committee Approves $285K in Year-End Budget Transfers

July 15, 2026 - 12:33

The Finance Committee has signed off on moving roughly $285,000 between town departments to close out the 2026 fiscal year with a balanced budget. The transfers, which were also approved by the Select Board, aim to cover shortfalls in some areas while reallocating surplus funds from others.

According to committee members, the adjustments were necessary to address unexpected expenses in public works and information technology, where costs ran higher than originally projected. Meanwhile, savings in personnel costs and delayed equipment purchases in other departments provided the available funds. The largest single transfer, about $80,000, went to the highway department for winter road maintenance that exceeded budgeted amounts due to a late-season storm.

Committee chairperson noted that the year-end process is routine but requires careful review to ensure no department is left underfunded going into the next fiscal cycle. The transfers do not increase the overall town budget, as they simply move money from accounts with surpluses to those with deficits. The Select Board's approval came after a brief discussion, with members expressing confidence in the Finance Committee's oversight.

The town's finance director confirmed that all transfers comply with state regulations and that the final budget will show a clean close for the fiscal year. No further adjustments are anticipated before the books are finalized next month.