03/05/2026 FINANCE COMMITTEE Minutes (2)

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FINCOM-Regular Session March 5,2026 Communication from School Committee Liaison, if any OLD BUSINESS NEW BUSINESS 1. Presentation of Proposed FY 2027 Operating Budget – Town Manager Rodney Collins The Town Manager presented the recommended operating budget for Fiscal Year 2027 to the Finance Committee. The budget had previously been presented to the Select Board. The Town Manager explained that the town is facing a budget. As a result, a Proposition 2½ override is being considered as a possible solution. The proposed budget attempts to balance priorities while maintaining current service levels where possible. A review of departmental budgets was provided. Most departments show modest adjustments from the previous year. Some departments reflect increases due to operational expenses, while others show slight decreases. The Town Manager noted that overall operational spending increases are relatively modest, though certain fixed costs and financial obligations have increased. The Town Manager explained that the town will subsidize wastewater operations during the upcoming fiscal year, as the enterprise fund is not yet self-sufficient. Members of the committee asked questions regarding the overall budget increase, the distinction between operational costs and fixed costs, and the assumptions used in the Town Manager’s recommendation. The Town Manager clarified that many financial figures related to debt, borrowing, and interest are provided by the town’s finance team. Committee members also asked about the potential impact if the override does not pass. The Town Manager stated that if the override were not approved, significant reductions across major departments could be necessary. Specific reductions have not yet been determined, but the Town Manager emphasized that cuts of that scale would likely affect the level of services residents currently expect. Additional discussion included staffing considerations, recruitment and retention challenges for municipal employees, and the importance of supporting town personnel across all departments. Committee members raised questions regarding a proposed wastewater administrative position and whether some related functions could be outsourced. The Town Manager indicated that the complexity of wastewater operations and regulatory requirements may 2