Wayland Select Board approves $8.25 million note sale, hears FY27 forecast

WAYLAND — November 3, 2025 — Wayland projects a $671,000 FY27 deficit and approves an $8.25 million note sale. Finance Director Brian Keveney told a joint Select Board, Finance Committee and School Committee session Monday that the town closed FY25 with roughly $12 million in certified free cash and returned $2.3 million in unspent appropriations, growing fund balance by $1.4 million. Moody's reaffirmed Wayland's Aaa rating with no outlook qualifier. The total FY27 budget is forecast at $113.4 million, a 5 percent increase, with health insurance carried at 12 percent. The board unanimously awarded $8.25 million in notes to Raymond James at a 2.6 percent true interest cost — a switch from bonds to notes that saves roughly $300,000 in FY27 debt service. Chair Carol B. Martin opened the meeting addressing a racist incident at the high school, saying such conduct "has no place in Wayland."