Finance Committee approves FY27 capital plan, audits show strong pension recovery.
Finance Committee · Meeting of February 4, 2026
ANDOVER — Finance Committee reviews balanced FY27 budget and approves $9 million in capital projects. Town Manager Andrew Flanagan reported state aid allocation increased 2.7 percent, though unrestricted government aid rose under 1 percent for a net shortfall of roughly 90 thousand dollars. Facilities Director Janet Nicosia presented seven capital articles totaling approximately 9 million dollars, with the largest allocation--5.375 million--directed to parks and playgrounds improvements including Chandler Road Recreation Area Phase II and Pomps Pond bathhouse.
Chief Financial Officer Hayley Green reported the FY25 audit showed the pension liability dropped from 22.7 million to 6 million, achieving 97.9 percent funding, while OPEB liability rose to 93 million with a trust fund balance of 38.3 million.
In the full story:
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Source: the Finance Committee meeting of February 4, 2026, reported from the official video recording and transcript.
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