Wayland Select Board approves $125,963 in year-end transfers, picks new financial advisor

WAYLAND -- June 26, 2019, Wayland Select Board approves $125,963 in year-end budget patches and switches financial advisors. The board voted 5-0 Wednesday to approve fiscal 2019 line-item transfers under the Municipal Modernization Act, the largest covering a roughly $40,000 debt-service over-expenditure traced to an incorrect principal-and-interest calculation; Town Administrator Louise Miller said the treasurer is now reviewing fiscal 2020 figures for a similar error. The board separately authorized Miller to negotiate a three-year contract with Hilltop Securities, replacing longtime advisor UniBank on a roughly $30,000-a-year engagement, after an internal committee unanimously ranked Hilltop highest on qualitative criteria. Members also appointed attorney Adam Gutbezahl to a Finance Committee seat expiring June 30, 2022, with member Mary Antes noting that town counsel and the State Ethics Commission cleared his other town roles. Chair Lea Anderson opened the meeting with a tribute to retiring Fire Chief David Houghton, a 38-year department veteran.