Select Board approves transfers to address budget shortfalls
The Select Board voted 3-0 to approve $164,505 in FY26 year-end financial transfers to cover departmental budget shortfalls, with the Finance Committee separately approving $245,010.95 in reserve fund transfers for legal counsel cost overages ($170,000), snow and ice deficits ($63,010.95), and an…
Select Board · Meeting of July 13, 2026
CHILMARK — The Select Board voted 3-0 to approve $164,505 in FY26 year-end financial transfers to cover departmental budget shortfalls, with the Finance Committee separately approving $245,010.95 in reserve fund transfers for legal counsel cost overages ($170,000), snow and ice deficits ($63,010.95), and an FY25 audit shortfall ($12,000). Town Accountant Sarah Smith reported the reserve fund would drop from $261,000 to approximately $15,000 after the transfers. Both boards discussed Finance Committee member Don Leopold's proposed improvements to the FY28 budget process, with Chairperson Jeffrey Maida supporting stricter deadline enforcement in departmental budget submissions.
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Source: the Select Board meeting of July 13, 2026, compiled from the official minutes.
Checked against the official minutes.
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