Residents of Norwood are gearing up for the upcoming May 12 town meeting, as the first information session was held on April 28, 2025. The session, led by Assistant General Manager Michael Rosen and Finance Director Jeff O'Neil, focused on municipal finance and the budget overview for the town's general government and school departments.

The meeting marked a significant improvement in accessibility, with the introduction of microphones and a live-streaming setup, allowing residents at home to participate and view presentation slides. O'Neil emphasized the importance of the budget as a reflection of community priorities, detailing how public funds are allocated and the fixed cost structure primarily driven by labor expenses.

Key topics included the town's stabilization fund, which currently holds a balance of $12 million, representing about 7% of general fund expenditures. This fund is crucial for maintaining the town's credit rating and is intended for emergencies and long-term needs. O'Neil reassured attendees that there are no immediate plans to tap into this fund, despite ongoing discussions about potential economic downturns.

Another focal point was the concept of "free cash," which refers to surplus revenue or unspent budget funds. The town has seen a significant amount of free cash in recent years, with $29 million certified last year, primarily from building permits and investment revenue. O'Neil cautioned that while free cash can provide short-term relief, it should not be relied upon for ongoing operational expenses.

The session also covered various revenue sources, including property taxes, state aid, and local receipts, with an expected increase of $5 million in Chapter 70 funding for public education. O'Neil highlighted the importance of conservative budgeting practices to avoid financial pitfalls.

As the town prepares for the May meeting, residents are encouraged to engage with the budget process and ask questions, ensuring transparency and community involvement in local governance. The next information sessions will continue to delve into specific departmental budgets, paving the way for informed decision-making at the upcoming town meeting.