Wayland FinCom walks through FY26 budget as health insurance estimate plunges

WAYLAND — February 18, 2025 — Wayland's FY26 health insurance estimate collapses from 10 percent to 2.34 percent, creating a $1.5 million cushion. Finance Director Brian Keveney told the Finance Committee on Feb. 18 that West Suburban Health Group voted an average 3.87 percent premium increase after drawing its trust fund from roughly 14 percent of annual claims down to 11 percent — a one-time buy-down of $3 million to $4 million. Acting Chair Brian O'Herlihy said his updated model still shows unused-levy shortfalls of $1.1 million in FY27, $2.7 million in FY28 and $4.5 million in FY29. The committee voted 2-1-2 to recommend Article CC, a non-binding resolution to explore a multi-generational recreational facility at 193-207 Main Street, with O'Herlihy opposed because he prefers a town center site. It also approved $6,933.75 in unpaid bills to environmental consultant CMG.