Finance Committee — March 12, 2026

Chair Lois Wassoff convened the Finance Committee meeting, confirmed quorum via clerk's roll call of members present (in-person and online).

Motion by Don Kupka, seconded by Gerard Jansen, to open the public hearing on warrant articles with financial impact; roll call vote passed 9-0 with no abstentions.

Lois Wassoff outlined the purpose of the third and final public hearing on 33 of 50 warrant articles, procedures for presentations, public comment, and upcoming town meeting dates.

Jason presented calendar year 2026 operating metrics, power supply costs, capital outlays (~$10M), retained earnings, PILOT payment of $453,500, and broadband subscriber growth/net income; followed by extensive Q&A.

Steve Duquen presented the FY27 stormwater enterprise fund budget (~$1.09M revenue), focusing on catch basin cleaning, infrastructure repairs, MS4 permit compliance, and tiered rates with no proposed increases. Discussion of revenues (32% other professional services), deferred maintenance driving higher expenses (~$375k-$900k budget), 20-year catch-up timeline, and abatement credits (-25% max) based on water quality improvements; topology-based credits not currently evaluated.

Review of curbside pay-as-you-throw program with 3,935 subscribers (out of ~5,500 eligible), 41% recycling rate, $2.498M FY27 expenditures, and use of retained earnings to meet 2-month policy balance.

FY27 budget of $3.339M including $500k hydraulic assessment and $300k plant repairs; 5% rate increase projected; capacity constraints are permitting-based (1.2M GPD limit); SIF funds restricted to capacity projects.

FY27 budget of $9.88M driven by PFAS treatment ($5M), Nagog intake, and cybersecurity; 12.5% rate increase projected; 10-year model shows healthy retained earnings under base or expanded capacity scenarios.

Minuteman Media budget of $592k with $400k revenue forecast; 10-year Comcast contract renewal adds franchise fees and capital payments; equipment upgrades planned for multiple town rooms.

Petition-based project for drainage/road improvements (~$195k total, ~$15k per parcel); town manages design/procurement with 10-year repayment term and possible liens; Public Works Commission recommends approval.

FY27 budget of ~$2.94M with $1.17M retained earnings transfer for capital; steady membership trends noted; full cost recovery model under development.

Annual authorization requested for six funds with limits unchanged from prior year (ambulance $1M, regional housing $400k, etc.); funds remain program-specific and do not require town meeting approval for recreation under separate statute. Explanation of revolving fund expenditures, sources of revenue for funds including regional housing services, and distinction for recreation department under separate state law.

Motion and roll call vote to close the public hearing on scheduled articles.

Reconvened meeting; deferral of articles 11 and 12 for additional information at March 19 meeting; identification of articles needing further discussion.

Discussion and affirmative recommendations on articles 40, -4, 29, 39, and 41 (storm water), with concerns raised on storm water plan and Beede Center (article 48) deferred.