The Hudson Budget Committee met on May 1 to look at what Hudson’s upcoming budget might look like, starting with what might be done with money not specifically allocated to a department.
“One item I’m interested in and I think the Committee is across the board, is the unexpended funds, what I call the rainy day fund. I believe right now the town’s fund is in the $7.3 million range,” said Budget Chair, Bill Cole, who hoped to learn what the balance might be at the end of the fiscal year.
While no action was immediately taken, he promised to follow up with the matter in the near future. He also promised to look deeper into the School Board’s facilities study and to ensure everybody got a copy of the report produced from that study.
“I personally, as a member of the Committee, and as a taxpayer, have no idea what the $85,000 bought,” said Cole, referring to the cost of the study. “It’s a question I just cannot get an answer to, but I assure you we will.”
Member, Shawn Jasper, shared some concerns about the facilities study.
“Not only do I have questions about what that report accomplished, but I think there were misstatements of facts in that report,” said Jasper.
According to Budget Clerk, Kevin Walsh, the study was the result of it being “a long time” since doing a comprehensive study of school building safety.
“There were some safety concerns that were just outlined in that particular study that could and should be addressed for the short-term,” he explained.
The Chair also expressed disappointment there were no liaisons from the School Board or the Board of Selectmen at the meeting, and he looked forward to talking about future funding matters related to the school system in the runup to the start of the next budget season. There was also some concern over a new platform firetruck. There were questions over whether funding for the truck was properly approved by voters.
“I’m not convinced that everything is being done in a prudent fashion right now,” said Cole.
Member, Randy Brownrigg, was curious about getting more information about Hudson’s various reserve funds.
“Is it possible to get a copy of all of our capital reserve funds?” asked Brownrigg. “Can we see how much money is in each of the capital reserve funds, and can we also see in those capital reserve funds, what money has been taken out and gone to what place?”
The Chair stated he could provide that information should the request be put into writing.
“These capital reserve funds we have; do they earn any interest?” said Brownrigg.
He was informed that all money Hudson has should be earning interest.
“I’m assuming it’s the same way it used to be, but all the money that’s in a reserve fund is in an interest-bearing account,” said Jasper. “Not only that, all the money the town has at the end of the business day, it goes into a form where it’s earning interest. All our money is always earning interest.”
