At its Sept. 25 meeting the Finance Committee reviewed updates on the town’s fiscal year 2026 budget forecast, capital planning efforts, and the upcoming Town Meeting schedule.
The meeting, chaired by Michael Hoyle, began with a review of recent developments from the Capital Planning Task Force. Vice Chair Brian O’Herlihy, who provided an update, acknowledged that the task force had been facing delays due to canceled meetings.
“The focus continues to be on the school budget,” O’Herlihy said, pointing out that the absence of the schools’ finance director had postponed recent discussions.
The task force, which is working on a multi-year model for the town’s operating budget, expects to resume meetings shortly, with a target of presenting a budget that avoids the need for an override in 2026.
One of the key challenges, O’Herlihy noted, is the town’s diminishing levy capacity.
“We’re running up against our tax levy limit, which could force difficult decisions in the coming years,” he explained.
The town’s finance director, Brian Keveny, is working with departments to maintain spending within the current fiscal guidelines but has concerns about long-term financial stability persist.
The committee also discussed plans for a joint meeting with the Select Board and the School Committee.
“This will be an important opportunity for the three boards to come together and review the financial forecast for fiscal year 2026,” said Hoyle.
The town manager and finance director are expected to present a preliminary outlook, which will help guide budget decisions for the upcoming fiscal year.
The meeting then turned to a discussion of the five-year capital plan. The Finance Committee emphasized the importance of updating the capital plan annually while ensuring it aligns with the town’s long-term goals.
As O’Herlihy noted, “The plan is meant to be a living document, updated as new priorities emerge or emergencies arise.”
The committee is working with town officials to finalize the capital plan for fiscal year 2026, which will include a mixture of debt-funded projects and those financed through the general fund.
In addition to budget updates, the committee reviewed the role of the Finance Committee in preparing the articles for the upcoming Annual Town Meeting. Hoyle raised the possibility of streamlining the article review process.
“We’re hoping to simplify the number of pros and cons we have to prepare for each article,” he said, noting that many of the articles remain consistent from year to year and could benefit from a more efficient review process.
O’Herlihy suggested assigning the finance director to review articles early in the process to identify non-financial articles, which would reduce the committee’s workload.
“We should focus on the articles that directly affect the town’s budget and let others handle the non-financial items,” O’Herlihy said.
This approach could significantly speed up the article review process, ensuring that the committee spends its time on more pressing financial issues, he said.
Toward the end of the meeting, the committee turned to the issue of debt-exclusion overrides, which may be necessary for large capital projects, including potential school renovations.
“Debt exclusions will likely be a topic for upcoming Town Meetings, especially given the scale of some upcoming projects,” Hoyle remarked, emphasizing the need for clear communication with voters about the impact of these exclusions.
As the meeting wrapped up, the committee set its next meeting for Oct. 7.
