Finance Committee reviews $10 million FY26 capital plan anchored by two school roofs

SUDBURY — January 13, 2025 — Sudbury FinCom reviews $10M FY26 capital plan and debates how to spend $7.2M in free cash. Finance Director Victor Garofalo walked the committee through a roughly doubled capital package on Jan. 13, driven by debt-excluded financing for two school roof projects expected to draw 40 percent MSBA reimbursement, plus $1.32 million from the levy, $2.98 million from free cash, and a borrowed ambulance funded from receipts. Garofalo proposed seeding a new pension stabilization fund at $175,000 and an accrued leave reserve at $25,000, with $650,000 to capital stabilization. Member Eric Poch said the $7 million free cash balance "is by default evidence of an error in our planning process," and member Henry Sorett opposed "creating separate pots of cash for various contingencies." SPS's guideline rose $120,000 for an assistant principal; FY26 budget hearings are set Feb. 3 (SPS), Feb. 10 (LS), Feb. 24 (capital) and March 3 (town).