Wayland Select Board weighs debt maneuvers to close $2 million budget gap

WAYLAND — September 2, 2025 — Wayland weighs debt maneuvers to close $2 million FY27 budget gap. Finance Director Brian Keveny told the Select Board Tuesday the town is projecting a $115.2 million fiscal 2027 budget that runs roughly $2 million over the Proposition 2½ levy, and pitched two fixes: converting about $700,000 in annual DPW-building debt service from levy to excluded debt via ballot question, and issuing bond anticipation notes plus a $6 million interest-free interfund advance to defer about $800,000 in debt service at a cost of roughly $160,000 in interest. Even combined, the moves leave about a $500,000 gap. Town Manager Michael McCall said the goal is to "avoid an override this year" and instead pursue a multi-year override for fiscal 2028-2030. In a joint session, the Board of Public Works recommended financing the MWRA connection through a hybrid under M.G.L. c. 59 §21C(n) — a provision KP Law attorney Carolyn Murray said only Bellingham has used since 1903 — to avoid a 74 percent water-rate hike on top of an already-scheduled 32 percent increase.