Summary
To: Town Commissioners
From: Gay Lancaster
Date: 7/15/2025
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Subject:
Title
PFM Update on financing options for major projects
Summary:
Financial Advisor, Julie Santamaria of PFM will present recommendations regarding the Town’s borrowing options.
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Body
Previous Commission Action: Concepts for funding have been discussed at previous Commission meetings.
Background/Problem Discussion: The proposed budget for the Capital Projects Fund for FY 2025-2026 currently has a deficit of $9.2 million. The Financial Advisor’s recommendations, which require Commission approval, will cover the current projected deficit.
Expenditure Challenges Capital Projects Fund deficit of $9.2 million
Financial Implications: The Town must adopt a balanced budget in September 2025
Recommendation: The staff recommends approval of Financial Advisor’s recommendations
Proposed Motion I move approval of the recommended financing options.