Finance Committee approves FY27 budget with $300k school cut, OPEB changes, and targeted department reductions.
Finance Committee approves FY27 school and departmental budgets amid $3.9 million deficit. Chair James Sullivan guided the committee to vote unanimously on a $58.4 million school budget with a $300,000 tax levy reduction and to approve across-the-board departmental spending cuts totaling nearly
Finance Committee · Meeting of April 23, 2026
WAKEFIELD — Finance Committee approves FY27 school and departmental budgets amid $3.9 million deficit. Chair James Sullivan guided the committee to vote unanimously on a $58.4 million school budget with a $300,000 tax levy reduction and to approve across-the-board departmental spending cuts totaling nearly $600,000. The committee voted to reduce the OPEB contribution by $500,000 and redirect $1.5 million from OPEB investment income to cover retirement benefits, defer police hiring by six months, delay a town accountant position, and postpone a $350,000 parking lot project to FY28.
An amendment to increase the school reduction to $500,000 failed with only four members voting in favor. The committee unanimously approved warrant articles authorizing $22.4 million from tax levy, $929,900 from Free Cash, and $3.61 million in borrowing.
In the full story:
- The complete report — 559 words
Source: the Finance Committee meeting of April 23, 2026, compiled from the official minutes.
Members read the rest of this story and every Wakefield meeting we cover, in full.
Become a memberAlready a member? Sign inA 30-day free trial needs a payment method. After it, your membership renews at the price shown at checkout until you cancel, which you can do anytime from your account. Subscription terms
Share this brief
Know someone in Wakefield who follows town government? Share Townbrief Wakefield: they can sign up free.