Finance Committee & Select Board Subcommittee revises capital and financial policies ahead of full board review.
Finance Committee and Select Board Subcommittee advanced revised Capital Stabilization Fund and Financial Policies ahead of full board consideration. Members approved prior minutes and spent the meeting refining language on debt management (setting a non-exempt debt cap at 10 percent), clarifying
Finance Committee · Meeting of May 13, 2026
ANDOVER — Finance Committee and Select Board Subcommittee advanced revised Capital Stabilization Fund and Financial Policies ahead of full board consideration. Members approved prior minutes and spent the meeting refining language on debt management (setting a non-exempt debt cap at 10 percent), clarifying whether policies should address buildings specifically or broader capital infrastructure, and strengthening references to the Facilities Master Plan and long-term replacement planning. Town Manager Andrew Flanagan and Chief Financial Officer Hayley Green presented the drafts.
The committee withheld transmission of all materials until after the Special Town Meeting, with the next Subcommittee meeting set for June 24, 2026.
In the full story:
- The complete report — 318 words
Source: the Finance Committee meeting of May 13, 2026, compiled from the official minutes.
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