Finance Officials Present FY28 Budget Framework

Select Board_ Budget Summit · Meeting of October 22, 2026

Belmont finance officials told a joint budget summit the town's $8.4 million override will now stretch through fiscal 2028, a year longer than originally planned. Town Administrator Patrice Garvin and Chief Financial Officer Jeff Lubian said free cash was certified at $6.8 million, with $3 million proposed for operating costs and OPEB, and health insurance costs that rose 24 percent before the town's move to the state GIC plan. Multi-year Budget Advisory Committee Chair Tom Caputo said the town will likely need another override "in the range of" $8 million to $10 million for fiscal 2029, calling it "ultimately a policy decision by the Select Board." School Committee member Amy Zegarello flagged that a slide understated this year's Chapter 70 state aid increase by $60 per student.

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Source: the Select Board_ Budget Summit meeting of October 22, 2026, reported from the official video recording and transcript.

Checked against the record: before publication this article was automatically compared with the meeting transcript.