Boxborough Finance Committee Caps School Assessment Guidance at 6 Percent for FY26

BOXBOROUGH -- October 29, 2024, Boxborough Finance Committee signals 6 percent school assessment cap and approves emergency library repair transfer. At its October 29 meeting, the committee voted unanimously to transfer $16,533 from the reserve fund to repair the Boxborough Public Library's corroded fire suppression pump and motor, the lowest bid was $33,066, but members opted to fund only the unfunded half of the contract, preserving reserve capacity for anticipated vocational school and town clerk transfers. Chair Tony Newton then led the committee through a first-pass fiscal year 2026 budget model showing the town at or near its levy limit under conservative assumptions, with capital requests preliminarily estimated at $5.5 million before reductions. The committee identified the $850,000 fire engine order, a $1.5 million fire station land purchase, and a $500,000 Recreation Commission softball field as the likeliest candidates for deferral or reduction. After reviewing district-provided data showing that a 2 percent operating budget increase for the Acton-Boxborough Regional School District translates to a 6 percent Boxborough assessment increase, the committee settled on 6 percent as its working guidance figure, with school committee member Liz Folks, attending remotely, confirming she would carry that number back to the district's budget subcommittee before its November 21 guidelines vote. The committee also unanimously adopted a formal OPEB investment policy setting a $300,000 annual contribution guideline and approved a special town meeting warrant article to authorize prudent investment of town trust funds.