The committee addressed the transition period following the expected resignation of Town Administrator Rebecca Torres. It was discussed that the select board is considering hiring a part-time consultant with town manager experience to guide the town through this interim period. This potential hire raised financial considerations, specifically whether the committee’s reserve funds would need augmentation to cover consultant fees. Concerns were voiced about the current reserve, which had already been reduced by $20,000. A committee member suggested that funds might be available within the town administrator’s budget to cover these costs; however, the necessity of bolstering the reserve fund was emphasized, with a proposal to increase it by $25,000 through a warrant article at the upcoming town meeting.

The committee also reviewed the potential implications of overlapping the consultant’s tenure with Torres’ remaining time, especially considering her accrued benefits, which could extend her payroll presence. This situation prompted discussions about whether a financial committee transfer would be necessary to fund the consultant role. In light of these considerations, a motion was presented to secure an additional $25,000 for the Finance Committee reserves, with the funding source potentially being free cash or stabilization funds. The committee agreed that discussions with the select board were essential to clarify financial needs.

In parallel, the committee explored the broader budgetary picture, expressing optimism about a reported new growth revenue figure of $660,000 from the board of assessors. This figure was higher than anticipated, easing concerns about a potential 2.5% tax revenue increase. The committee debated the mechanics of transferring funds from reserves and the timing of drawing from free cash or stabilization funds.

The committee also grappled with the financial implications of charter schools and school choice. The loss of 94 students to charter schools, costing the district $2.3 million, was highlighted as a issue. The committee agreed to formulate specific questions for the superintendent regarding a potential pause in school choice and to explore various budget scenarios, including those using the modified statutory method. These inquiries aimed to prepare for a review at the upcoming four towns meeting set for December 7.

Further complicating the budget discussions was the proposed restructuring of the regional school into a 7-12 configuration. This proposal, intended to address the district’s budget deficit and attract students back from charter schools, required careful analysis of the financial impacts. The committee acknowledged the superintendent’s efforts to develop an innovation school and collaborate with local higher education programs, offering students pathways to earn associate degrees upon graduation. However, the potential establishment of an innovation school added another layer of complexity to the financial planning, necessitating a clear understanding of the fiscal ramifications.