Finance Committee approves $407K in FY26 reserve fund transfers
Finance Committee approves $407K in reserve fund transfers from FY26 account. Chair James Sullivan's committee unanimously authorized 11 transfers to cover unanticipated costs including $105,000 for Town Council retirement buybacks, $48,862.12 for unemployment claims, $32,371.22 for salary
Finance Committee · Meeting of June 18, 2026
WAKEFIELD — Finance Committee approves $407K in reserve fund transfers from FY26 account. Chair James Sullivan's committee unanimously authorized 11 transfers to cover unanticipated costs including $105,000 for Town Council retirement buybacks, $48,862.12 for unemployment claims, $32,371.22 for salary increases, and $28,560 for additional insurance coverage. The transfers leave the reserve with $22,745.07 remaining.
Sullivan indicated this may be his final meeting as Chair, with a subcommittee to select a successor.
In the full story:
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Source: the Finance Committee meeting of June 18, 2026, compiled from the official minutes.
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