At their meeting on Monday, April 22, 2024, the Select Board voted to post the Annual and Special Town Meeting Warrant. The warrant contains 2 items under the Special Town Meeting which address appropriations for the current fiscal year. On the Annual Town Meeting warrant, there are 26 warrant articles, with one citizens petition and five zoning amendments sent through the Planning Board.
The warrant also includes, of course, Article 6 which sets the Fy25 Operating Budget. It is attached to the warrant as Exhibit A. The budget represents modest growth in terms of new items but also includes the first interest payment on the Tyngsborough Middle School project. That interest payment comes to $1.2M which will be billed directly to residents as excluded debt in accordance with the Town Meeting and Town Election approval authorizing the project. The first year of the full debt payment on the Middle School will be realized in Fiscal Year 2026 (July 1, 2025 - June 30, 2026) and will be the first year of the Town's $1M annual contribution to lower the burden on taxpayers. As a part of the funding agreement, the Select Board and Finance Committee endorsed a plan to offset the debt payment by committing $1M from the general fund each year of the 30 year loan which will commence in FY26. Over the course of the loan, this $30M general fund contribution will substantially lower the impact on top of the average tax bill. You can learn more about the budget here.
The warrant also includes three articles that are designed to prepare for the upcoming debt payments. Articles 16 , 17, and 18 seek to change the allocation of cannabis excise revenues so that 50% will continue to be deposited into the Road Stabilization Fund (reserved for road maintenance) and 25% will be deposited into the debt stabilization. This will allow the Town the ability to absorb future financial challenges and maintain the general fund contribution to the debt. The warrant also seeks a $200,000 deposit into Debt Stabilization for the same purpose from Certified Free Cash. All of these steps will help ensure the Town receives a favorable interest rate when it locks in the permanent borrowing on the Middle School in November 2024.
You can read the full warrant here.
The Finance Committee Guidebook, which is required to be published seven (7) days ahead of the Town Meeting will be published by Tuesday, April 30th. It will be available on the Town Meeting page here.
Additionally, on the Town Meeting page you can find a graphic showing the article, the text of the article, a short explanation, and how the Select Board and Finance Committee voted in terms of their recommendations.
Finally, keep in mind that Town Manager will host the Pre-Town Meeting Information Session on Tuesday, April 30th, 2024 at 6PM at Town Hall. This meeting is informational only. There are no votes taken and no debate. The Town Manager will walk through the warrant, provide explanations, and answer any questions that might arise.
Also keep in mind that the Council on Aging is offering shuttle service to Town Meeting for those who need it. You must register ahead of time by calling the center directly at 978-649-9211. Registration will close on May 1st. Please note that if you use this service, you will be dropped off ahead of the meeting and the return shuttle will not depart until Town Meeting concludes. This service is free.