Wayland Finance Committee approves $3.1 million capital budget for fiscal 2024

WAYLAND — December 19, 2022 — Wayland Finance Committee approves $3.1 million capital budget, defers $29 million water ask. The committee voted 7-0 Monday to accept a $3,111,600 fiscal 2024 capital plan — funded by $687,500 in taxation, $2,093,828 in free cash, $288,000 from the ambulance fund and $42,272 in closeouts — and 6-0 with one member not recorded to endorse a $32,751,394 five-year plan. Both exclude the Board of Public Works' $29 million water request, which is on hold pending an Abrahams Group rate study due in late January. Staff said the water fund balance has fallen from roughly $4 million to about $1.4 million, and warned, "I don't want this fund to have to be dependent upon the general fund for a subsidy." Members also previewed a school department fiscal 2024 request running nearly 7.4 percent above this year, before COLAs, against a town guideline under 4 percent.