Article 17: Transfer of $75,000 to OPEB Trust
In 2010, Town Meeting created a trust fund to save money to pay for retiring employee’s post employment benefits. In 2019, the Town OPEB Committee issued a report to the Select Board with recommendations regarding OPEB, which can be found here: OPEB Report July 15, 2019.pdf. The Town is requesting to transfer $75,000 from Free Cash to fund that account.
Article 19: Transfer to Stabilization
The Town is requesting to transfer $202,146 to the Stabilization Account. The Stabilization Account is the Town’s savings account. The Town saves money there to be used in emergencies. Some like to refer to the account as the rainy day fund. The Town has financial policies in place that advise the town to maintain 5% of General Fund revenues in the Stabilization Account. To appropriate from the Town’s Stabilization account requires a 2/3rd vote of Town Meeting.