Wayland FY26 forecast lands $123,000 under the Proposition 2½ levy

WAYLAND -- October 29, 2024, Wayland forecasts a fiscal 2026 budget within $123,000 of the Proposition 2½ levy ceiling. Finance Director Brian Kevany presented the six-month working-group forecast to a joint Select Board, Finance Committee and School Committee meeting Tuesday, projecting a 3.98 percent total budget increase, a 4.51 percent tax-rate hike and a $93.4 million levy. The town budget is forecast to rise 3.28 percent, schools 4.32 percent and unclassified accounts 4.10 percent. Middlesex Retirement raised Wayland's pension assessment 9 percent, nearly $600,000, breaking a 3-and-6 cycle Kevany said he challenged unsuccessfully. Health insurance is being carried at 10 percent pending West Suburban's February renewal. Fiscal 2024 closed with a $1.9 million expense turnback and free cash projected at $10.4 million. "We're coming right in as a photo finish under the levy," Kevany said, with fiscal 2027 pointing toward an override or cuts.