Subcommittee reviews town financial policies, reserves, and capital framework
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
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.
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Source: the Select Board meeting of January 30, 2026, compiled from the official minutes.
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