Subcommittee reviews town financial policies, reserves, and capital framework
Select Board · Meeting of January 30, 2026
Andover Finance Committee and Select Board Subcommittee examined revised financial policies on reserves, capital improvements, and debt. Town Manager Andrew Flanagan presented reworked guidance on general fund reserves targeted at 5 to 7 percent of the operating budget and proposed raising the capital improvement threshold from $10,000–$15,000 to $25,000, though Select Board member Kevin Coffey advocated for at least $100,000 and a policy against borrowing for smaller items. The subcommittee discussed integrating the Massachusetts Department of Revenue's official free cash definition into a municipal glossary and planned to schedule water and sewer policy reviews for joint presentation to Town Meeting.
In the full story:
- The complete report — 339 words
Source: the Select Board meeting of January 30, 2026, reported from the official video recording and transcript.
Keep reading with a 14-day free trial
Subscribe to Andover News to keep reading this post and get 14 days of free access to the full post archives.
A subscription gets you:
- Subscriber-only posts and full archive
- Post comments and join the community
- 24x7 access to local news