Sudbury Finance Committee reviews $7.27 million in certified FY24 free cash

SUDBURY -- October 28, 2024, Sudbury Finance Committee reviews $7.27 million in certified FY24 free cash. Finance Director Victor Garofalo told members the certified figure came in at roughly 6 percent of the town's $118 million budget, above the 3-to-5 percent fiscal-policy target, driven by a $2.9 million revenue overage and $2.8 million in expense reversions tied to persistent fire and police vacancies. Co-Chair Michael Ferrari noted the town passed a $765,000 operating override for fiscal 2024 and still ended the year with surpluses well beyond that. "We've negated the override plus an extra six and a half million dollars in the budget," Ferrari said, pressing for new financial-policy controls over how surplus revenue is allocated. Sudbury Public Schools prepaid $543,121 in FY24 special education costs from circuit breaker funds; member Ryan Lynch is seeking a fuller reconciliation. The committee meets again Nov. 18.