07/15/2026
I am a little late getting this out, but I wanted to update everyone on the FY’27 budget. During the Town’s regularly scheduled June meeting, the Town Council adopted the FY’27 budget. The total budget is $2,789,983.
That includes both the operating budget and the capital budget since it runs from the same fund. The capital budget is $859,725. The majority of that ($563,556) is attributable to the Hahn property. A large portion of those costs ($392,000) will be offset with a grant we received from the State with the assistance of our state delegation. We need to complete some interiors renovation to make the bathrooms and entrance ADA compliant. Replace the fire escape and roof and enlarge the meeting area. We hope to be ready for the move in this winter.
This leaves the operating budget. To get a clear look at how we are operating we remove capital spending and grants as well as enterprise operations such as the Speed Zone Safety Program and interest. We also look at the long-term cost of our capital assets and derive an amount we need to save (revenues-expenses) from operations each year so we can avoid debt when we need to replace those assets. We put this amount into our saving. It shows up as unrestricted cash in our financial statements.
As of June 30, 2025, we had $6.8m in unrestricted cash. This is what allowed us to pay cash to purchase the Hahn property. This year we are budgeting to put $342,033 before interest revenue back into our savings (unrestricted cash). This is less than most years but not unexpected as we are expanding staff and facilities as we get ready for the new communities. We also have set up costs associated with the Open Air Pavillion (Event Barn). Once the Event Barn becomes operational and the new communities come online those costs will be offset with new revenues and we can expect our numbers to go back to normal.
Lastly, since we essentially borrowed against our unrestricted cash to purchase Hahn’s, we will be looking to sell other properties that the Town will no longer need now that we have a large municipal campus. The proceeds will go back to unrestricted cash.
The Town Council and staff are working very hard. Kindly give them your support and understanding.
Thanks,
Winslow
301.748.6517