Molly Ahern of the finance office presented the third-quarter financial review at the May 1 Town of Norwood Finance Commission meeting and said the town’s full-year revenues are projected to be slightly higher than expectations.

Revenue highlights: Ahern said investment earnings remain strong. Building-permit revenue is currently below projections, but the building department anticipates a significant permit that would bring the line closer to budget. Transfers in (including override stabilization and indirect charges from enterprise funds) are typically booked late in the fiscal year and are expected to be realized by year end. Auto excise taxes are reported above last year, while meals, rooms and jet-fuel excise taxes are below last year’s amounts.

Expense highlights and issues: Ahern said there were no major concerns on the expense side as of March but called out several items for follow-up: ambulance-billing fees in the treasurer’s department are rising and will track with revenues; elections and registration expenditures are under review to confirm correct charging after the recent town meeting; snow-and-ice removal shows an overage that staff plan to address at the May special town meeting via an internal transfer; and labor costs recorded under traffic-control/fire-alarm will be reviewed for correct allocation.

Reserve fund: Ahern said she was not aware of any issue that would require an allocation from the reserve fund at this point. Commission members asked questions about timing and seasonal effects on department spending and noted that some below‑target reports are caused by payment timing rather than structural underfunding.

Next steps: Staff will continue to reconcile allocations, update the pink sheet and provide any targeted adjustments for the special town meeting. The commission heard no items in the Q3 review that would require immediate reserve-fund action.