Subcommittee begins review of 36-year-old financial policies
Andover's Finance Committee and Select Board subcommittee opened a comprehensive review of financial and capital policies last updated in 1990. Town Manager Andrew Flanagan and Hayley Green, Director of Budget and Capital Management, identified outdated thresholds, rigid percentage targets for free
Finance Committee · Meeting of January 16, 2026
Andover's Finance Committee and Select Board subcommittee opened a comprehensive review of financial and capital policies last updated in 1990. Town Manager Andrew Flanagan and Hayley Green, Director of Budget and Capital Management, identified outdated thresholds, rigid percentage targets for free cash reserves, and debt policies that no longer align with Department of Revenue standards or current practice. Members agreed to replace fixed-dollar constraints with flexible language giving the Town Manager discretion over capital decisions and debt issuance.
Three follow-up meetings are scheduled through early March.
In the full story:
- The complete report — 276 words
Source: the Finance Committee meeting of January 16, 2026, compiled from the official minutes.
Members read the rest of this story and every Andover meeting we cover, in full.
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