The Finance Commission reviewed the town's second‑quarter fiscal 2025 financial report and heard that overall revenues were slightly ahead of budget projections in some areas while building‑permit and development receipts remain slow.

Finance staff member Jeff summarized the key drivers, saying higher interest rates have increased investment earnings and that of roughly $3,000,000 in a noted project pool, about 28% (about $1 million) is attributed to a single source the staff identified as “COBRA,” an amount that is expected to decline as project activity changes. Jeff said the commission will need a strong spring for permit revenue because, as of the report, the town was “only about $500,000 of the $1.8” (as stated in the meeting) toward a noted target.

The nut graf: the town is broadly on track but depends on spring permit activity and several budget lines that have run high. Commissioners pressed staff on revenue timing and on several expense lines that merit monitoring.

On the expense side staff highlighted two recurring pressure points: the administrative fee tied to ambulance collections — a 5% fee that historically has been underbudgeted but is offset by the collections themselves — and traffic‑control labor, which has been consistently over budget. Jeff also noted a catch‑all salary account that includes fire‑alarm labor and some light‑department work; commissioners asked staff to reclassify charges so labor is allocated to the correct department accounts.

Commissioners asked follow‑up questions about retirement contributions and the mix of rental receipts (monthly, quarterly and lump‑sum arrangements) and were told more detail would be provided. Staff indicated transfers (for example, a water‑related account) are being deferred until the end of the fiscal year because those balances earn interest and do not currently cause cash‑flow issues.

The meeting included routine budget planning reminders: staff had circulated preliminary FY26 budget materials and commissioners signaled they would use those figures when the budget balancing committee meets.

Ending: Commissioners did not take formal budget actions at this meeting but directed staff to supply more detail on retirement contributions, rental revenue timing, and to review salary account coding for fire and light‑department labor.