LYNNFIELD — On Monday, the Finance Committee discussed issues related to the upcoming year and its budget, a matter that will be fully fleshed out at the budget summit next Wednesday.
A last minute cancellation moved this summit from last Wednesday to next Wednesday, when it will be decided how the town’s finances will be allocated.
The committee discussed the school’s budget, which has the potential to go to an override. It has especially been a point of conversation with the teacher contract being renewed at the beginning of 2025.
Committee member Gene Covino emphasized this point by underscoring the importance of the school system to the town and how they spend money. Covino also inquired to the rest of the committee how they can make sure the superintendent is updated regarding finances of the town.
The group also brought up that while they want one unified number, other towns will have multiple budgets arrive at the table. Committee Chair Thomas Kayolla made the point that the school, for example, could bring two budgets to a town meeting, one with an override and one without.
Members all agreed that offering residents who come to town halls transparency with regards to spending is important. Having both budgets available to look over would make this process more clear, especially as it is only through a town vote that an override gets passed.
Kayolla expects the school to offer a number on Jan. 3, which he noted may not be the final figure, but will be a place to start.
On another note, Committee member Chris Mattia voiced the idea of getting a financial report ready for the town hall meeting.
“We really don’t share a ton of information historically at these town meetings,” he said. The financial trends and changes of the town can become more understandable with a document prepared for residents to look over.
Another concern was raised about the recreation budget concerning the fields. A recent town meeting voted to allocate money toward the project of revitalizing.
However, the committee voiced reservations about the financials of the fields. Members noted that 50% of the time the fields are being used by the high school for free, while the town is expected to pay for 100% of the irrigation and maintenance. (attribution)
The committee will continue to discuss the town’s financial outlook for 2025 at next Wednesday’s budget summit.
