The Finance Commission of Norwood convened on May 2, 2025, to review the town's financial status and prepare for upcoming town meetings. The meeting began with a discussion on revenue projections, indicating that full-year revenue is expected to exceed initial estimates. Investment earnings remain strong, while building permit revenues are currently below projections, though a significant permit is anticipated soon to help align these figures with the budget.

The commission noted that transfers related to override stabilization and indirect charges for the enterprise fund are expected to be fully realized by the end of the fiscal year. Some departments are reporting expenditures below the 75% threshold typical for this time of year, primarily due to the timing of payments, which are expected to meet budget levels by year-end.

On the expense side, no major concerns were raised. The Treasurer's Department budget includes fees for ambulance billing services, which are expected to increase alongside revenue. The commission is reviewing the elections and registrations budget to ensure proper allocation following the recent town meeting. Additionally, an overage in the snow and ice removal budget will be addressed at the upcoming special town meeting through an internal transfer.

The commission also discussed labor costs under the traffic control and fire alarm budget, with plans for the accounting department to review these charges to ensure proper allocation. No immediate need for allocations from the reserve fund was identified.

The meeting transitioned to preparations for the annual town meeting and special town meeting articles. The commission revisited an article related to water tanks, which had not been voted on previously due to a lack of information. Recent updates indicated that a contract must be finalized by June to secure state reimbursement funds. The estimated cost for the project has increased from $3.5 million to $3.7 million, with borrowing planned for late in the project, likely in 2027.

Concerns were raised regarding the rising costs associated with the project, attributed to factors such as labor and material tariffs. Despite these concerns, the commission acknowledged the necessity of the project due to the existing tanks being well past their useful life. A motion was made to present the article for approval, signaling the commission's commitment to moving forward with the project.

The meeting concluded with a focus on ensuring all financial matters are addressed ahead of the upcoming town meetings, emphasizing the importance of timely decisions to secure funding and maintain the town's infrastructure.