Wayland FinCom reviews FY26 forecast with $737,000 in unused levy

WAYLAND -- November 25, 2024, Wayland forecasts roughly $737,000 in FY26 levy headroom against a school budget already called "extremely tight." Finance Director Brian Keveney told the Finance Committee Nov. 25 that better-than-expected new growth of $558,000 and local receipts of $5.6 million improved the picture, but a 9 percent, $171,000 jump in the Middlesex Retirement assessment, a 10 percent health insurance placeholder and an unquantified school special education gap all threaten the margin. The omnibus budget is tracking near a 4 percent year-over-year increase with the school side at $54.9 million. Superintendent budget materials are expected Jan. 27, with a School Committee vote Feb. 5. Keveney warned overrides may be needed for "five to 10 years unless we get some significant new growth."