Wayland FinCom traces $1.5M swing in FY26 levy as state aid, health costs come in favorably

WAYLAND — February 19, 2025 — Wayland Finance Committee charts a $1.5 million levy reversal heading into Monday's FY26 budget vote. Finance Director Brian Keveney told the panel Feb. 19 that the fiscal 2026 outlook has swung from a $254,000 deficit last May to roughly $1.5 million of unused levy capacity, driven by $254,000 in additional certified new growth, a $225,000 preliminary bump in state aid to about $9.1 million, and roughly $780,000 in health insurance savings against a 10 percent escalation forecast. Tax bills would rise about 3.6 percent. The schools, which had flagged a $1 million gap, will be allowed to add back $85,000. Keveney warned the structural problem remains: "Had we started the year with knowing that we had $1.5 million of unused levy, I think some of these cuts would have been delayed a year." Members are modeling a fiscal 2027 override of $1 million or more. The committee also deferred a vote on Article U creating a Capital Improvement Committee and questioned a late $250,000 environmental remediation article for 195 Main Street.