Concord Finance Committee Holds Organizational Meeting, Approves Minutes, Assigns Liaisons

PEPPERELL — May 7, 2026 — Concord Finance Committee holds post-town-meeting organizational session, learns of $17.5 million bond sale at 3 percent. The 15-member committee, meeting for the first time since the conclusion of annual town meeting, welcomed new members Rita Raychaudhry, a former institutional banker, and Don Parker, a retired Harvard public-policy instructor and former school superintendent, with two additional new members expected at the next session. Town CFO Jennifer announced that the town sold a $17.5 million bond earlier that day at a 3 percent true interest cost — which she called "an absolutely excellent rate" — following reaffirmation of the town's AAA Moody's bond rating, with net proceeds of roughly $16.1 to $16.2 million after a premium of approximately $1.8 million. Members flagged the fiscal year 2024 audit's material weaknesses in financial controls, a persistent rise in town spending, and low town meeting attendance — estimated at over 700 unique voters across three evenings but far short of the roughly 13,000 eligible — as the committee's top concerns for the coming year. A proposal to establish a financial solutions subcommittee to assist with a composting feasibility study mandated by town meeting was tabled pending gauge of member interest and confirmation that the Select Board and town manager would welcome Finance Committee involvement.