The committee’s discussion on debt exclusions revealed a concern for the community’s financial future. A potential debt exclusion for the school district’s HVAC system was a major topic. The committee explored possible scenarios depending on grants the schools might receive, emphasizing the need for clear communication with the public. If the debt exclusion is not approved in the upcoming election, the town may have to find alternative funding methods for these repairs, which poses a risk to the operating budget. This scenario raised concerns about increased property taxes, with members acknowledging the financial strain a significant tax increase could impose on residents.

The committee also anticipated another potential debt exclusion in the fall for Old Colony’s new school. Questions arose about its cost and the town’s share, compounded by uncertainties about the coordination of a special town election across all member towns. This was part of a broader discussion on the financial implications of multiple debt exclusions in a short timeframe, which could notably impact taxpayers.

During the meeting, the committee reviewed the town’s stabilization balance, estimated at around $3 million, and acknowledged the importance of maintaining a good bond rating, particularly as borrowing would be necessary for future infrastructure projects. Concerns about long-pending state transportation bonds, such as a promised $1.5 million bond since 2014, were noted, highlighting the town’s dependency on state funds for infrastructure improvements.

The committee further discussed the potential use of free cash to address budget issues. While some members considered using free cash to eliminate the ban on the school roof, others cautioned against relying on it for operational budgets due to the requirement to replenish it within three years. This conversation underscored the need for sustainable fiscal strategies and the long-term consequences of short-term fixes.

Attention then turned to utility costs and their impact on the budget. Rising rates from Eversource were a point of frustration, with members noting the Massachusetts Department of Utilities’ role in regulating these rates, which remain a burden for many residents. The committee also addressed educational funding challenges, highlighting the disparity between required net school spending and Chapter 70 funding. Members argued that state financial support does not keep pace with rising educational costs, adding that relying solely on minimum net school spending is unsustainable for communities, especially smaller ones.

The meeting also covered the town’s need to fill finance positions, noting that many candidates lacked experience, which is important for effective operations. The committee considered avoiding hiring for certain positions as a cost-saving measure while acknowledging the necessity of filling essential finance roles.

The committee discussed engaging with local state representatives before legislative voting. One member suggested inviting the governor, although the feasibility of such a visit was questioned. The conversation shifted to a proposed $425 million bill for a migrant shelter, with some members expressing strong opinions against this expenditure given local aid needs. They questioned fiscal priorities, considering the additional $500,000 allocation meant to sustain until May.

Finally, the committee addressed a request for a reserve fund transfer of $99,950 for the Council on Aging’s outdated heating system. The urgency of the heating issue was acknowledged, with members expressing concerns about the long-term viability of only partially addressing HVAC issues. The facility’s role as a warming center added importance to resolving this matter efficiently.