Article 13: Revolving Fund Spending Limits
Every year Town Meeting authorizes the Town’s revolving accounts and sets spending limits for those accounts. A revolving fund separately accounts for specific revenues and earmarks them for expenditure by a board or officer without appropriation for particular purposes to support the activity, program or service that generated the revenues. Town Meeting authorizes the revolving account, its use, and how much can be spent from the account each year.
To learn more about the different types of revolving accounts, visit here: https://www.mass.gov/doc/revolving-funds-chart-non-school-department-program/download
Article 14: Appropriation – General Fund for Fiscal Year 2027
Article 15: Appropriation – Water Enterprise Fund for Fiscal Year 2027
Article 16: Appropriation – Sewer Enterprise Fund for Fiscal Year 2027
These articles are the Budget articles of Town Meeting and include the regular operating budget, as well as the Town’s two enterprise funds (Water and Sewer).
More information on the Town’s budgets can be found here: https://drive.google.com/drive/folders/1ZwhNf3D_X3HnpKy40pzASt6s7KqcjWDj?usp=drive_link
To learn more about Enterprise Funds generally please visit:https://www.mass.gov/info-details/enterprise-funds
Article 17: Transfer of $75,000 to OPEB Trust
In 2010, Town Meeting created a trust fund to save money to pay for retiring employee’s post employment benefits. In 2019, the Town OPEB Committee issued a report to the Select Board with recommendations regarding OPEB, which can be found here: OPEB Report July 15, 2019.pdf. The Town is requesting to transfer $75,000 from Free Cash to fund that account.
Article 19: Transfer to Stabilization
The Town is requesting to transfer $202,146 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. To appropriate from the Town’s Stabilization account requires a 2/3rd vote of Town Meeting.