Billerica Finance Committee approves four reserve fund transfers totaling more than $210,000

BILLERICA -- July 10, 2024, Billerica Finance Committee approves $210,000 in reserve transfers and places four warrant articles. The committee, meeting July 10, elected Dave Gagliani as chair and John Malloy as vice chair before approving four end-of-year reserve fund transfers totaling $210,468. The largest single transfer, $83,000, the full balance of the sewer enterprise reserve fund, covered a sewer-side chemical account deficit driven by sharply rising treatment chemical costs procured through the Northeast Merrimack Chemical Consortium. A $28,683 transfer covered payroll for an unbudgeted town referendum election, with one member noting that running the vote on a regularly scheduled election date "could have saved $28,000." A $75,000 transfer addressed a recurring Medicare payroll-tax shortfall shared by the town and school district, and $23,785 covered demolition of a condemned, long-vacant property at 21 Canterbury Street, where a bus stop near the site had raised public safety concerns and a lien on the property is expected to recover the cost in a future sale. The committee also unanimously placed four free-cash warrant articles on the fall town meeting warrant, including one amended on the spot to add retained earnings language.