Finance Committee and Select Board subcommittee review reserve policies and long-term capital planning.
Finance Committee · Meeting of April 8, 2026
ANDOVER — Finance Committee and Select Board subcommittee discuss reserve structures and capital planning. Town Manager Andrew Flanagan and Chief Financial Officer Hayley Green presented draft budget materials and comparative reserve data showing Andover's reserve levels as relatively low compared to peer communities by Standard & Poor's standards. Committee members--Finance Committee member Paula Colby-Clements and Select Board members Laura Gregory and Kevin Coffey--examined free cash versus stabilization funds, long-term facilities planning, and the balance between reserve adequacy and resident taxation.
The group emphasized the importance of a 30-year maintenance outlook and regular three-to-five-year policy reviews. No formal votes were recorded; the next meeting is scheduled for April 15, 2026.
In the full story:
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Source: the Finance Committee meeting of April 8, 2026, reported from the official video recording and transcript.
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