Wayland Finance Committee backs reclassifying DPW debt for December ballot

WAYLAND — October 6, 2025 — Wayland Finance Committee unanimously recommends moving $700,000 in DPW debt to excluded status. The committee endorsed a Select Board plan to put the reclassification on a December special election ballot as part of a two-lever strategy to keep the fiscal 2027 budget under Proposition 2½ without an override. Finance Director Brian Keveney said the second lever — issuing $1.3 million in bond anticipation notes plus advance refunding from the general fund instead of $8 million in long-term bonds — will defer roughly $800,000 in principal payments. The forecast still assumes a 12 percent health insurance increase and requires $300,000 to $500,000 in further cuts. "The cost of the debt doesn't change," the chair said of the reclassification, which carries only about $10,000 in election costs. A benchmarking review found Wayland's residential tax rate ranks third highest among 12 peer towns, behind Acton and Sherborn, while per capita new growth ranks among the lowest. Wayland's last override passed in 2013.