Warrant Article of the Day
As we ready for Town Meeting on May 14, 2024, the Town will be presenting information every day on different warrant articles.
Article 18: Transfer to Stabilization
The Town is requesting to transfer $80,255 to the Stabilization Account. The Stabilization Account is the Town’s savings account. The Town saves money there to be used in emergencies. Some like to refer to the account as the rainy day fund. The Town has financial policies in place that advise the town to maintain 5% of General Fund revenues in the Stabilization Account. After this year’s transfer, the Town will have over $6.2 million in the fund. To appropriate from the Town’s Stabilization account requires a 2/3rd vote of Town Meeting.
To learn more about Stabilization Funds visit: https://www.mass.gov/files/documents/2017/09/11/igr17-20.pdf