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Home My WebLink About2026-07-28 Select Board Packet Town of Reading Meeting Posting with Agenda 2018-07-16LAG Board -Committee -Commission -Council: Select Board Date: 2026-07-28Time: 7:00PM Building: VirtualLocation: Zoom Address: Agenda: Purpose:General Business Meeting Called By:Madeleine Baptiste on Behalf of Chair Melissa Murphy Notices and agendas are to be posted 48 hours in advance of the meetings excluding operation and make necessary arrangements to be sure your posting is made in an adequate amount of time. A listing of topics that the chair reasonably anticipates will be discussed at the meeting must be on the agenda. All Meeting Postings must be submitted in typed format; handwritten notices will notbe accepted. Topics of Discussion: \\~~{ B|z¯PAGE # Join Zoom Meeting https://us06web.zoom.us/j/85983272452 Meeting ID: 859 8327 2452 One tap mobile +16465189805,,85983272452# US (New York) +16465588656,,85983272452# US (New York) ¤¯Pledge of Allegiance Overview of Meeting ¤¯¢Public Comment ¤¯¢Discussand Vote on Override This Agenda has been prepared in advance and represents a listing of topics that the chair reasonably anticipates will be discussed at the meeting. However the agenda does not necessarily include all matters which may be taken up at this meeting. Page | 1 2 3 4 5 6 Purpose 2026, discussion and vote regarding override analysis and recommendations. Executive Overview FINCOM recommends two override tiers for the November ballot: Summary of Financial Conditions Structural deficit: $6.475M in FY27, $9.8M in FY28, rising to $11.4M by FY32. Free cash regeneration has been below annual free cash use for three consecutive years. Without an override, up to ~67 positions (combination of municipal and school positions) may be eliminated beginning in FY28. (The schools have not provided details on budget issues and possible cuts; this figure is an estimate.) The Town Manager presented several override structures and amounts, consistent with the Select Board discussion on July 14, 2026. FINCOM reviewed these structures and their fiscal implications. FINCOM Vote and Recommendation FINCOM voted 80 to recommend that the Select Board place two override tiers on the ballot: General Notes Applicable to Both Tiers Approximately $3M may return to the operating budget beginning in FY32 when pension obligations are fully funded; FINCOM considered this in selecting the tiers. Decisions about specific departmental restorations or reductions (town, schools, library, etc.) are and remain with the Town Manager, Superintendent, and department heads. FINCOM relied on Town Manager and CFO representations; no direct school-side budget presentation was available at the time of the vote. 7 not an endorsement of either amount; final decisions on structure, timing, and ballot language rest with the Select Board. Tier 1: $7.0 Million Override Intended to reduce, but not eliminate, reliance on free cash to match historical regeneration. Moderates tax impact relative to higher tiers. Tier 2: $9.8 Million Override Matches the FY28 structural deficit. Provides greater long-term stability. Reduces risk of deeper cuts in FY29FY30, though free cash may still be needed in later years. Ballot Structure Clarification (Tiered vs. Multi-Year) uses a tiered override, as outlined in t Tiered Override (FINCOM Recommendation) Per DLS guidance (Proposition 2½ Ballot Question Requirements): Each tier requires one ballot question. All questions apply to the same fiscal year. If multiple questions pass, the highest amount prevails. This approach requires: Two ballot questions, both for FY28. Both worded as override questions. Highest approved amount becomes the levy limit increase. Phasing and Under-Levying Option During the July 15 meeting, the CFO noted that the Select Board may explore spreading the tax impact over multiple years through under-levying (maintaining excess levy capacity). Key points: Phasing does not require multiple ballot questions. Under-levying is a Select Board policy choice, not a ballot structure. The levy limit increases immediately upon voter approval, but the Select Board may choose to tax less than the full amount in Year 1 and/or later years. FINCOM neither recommends nor opposes under-levying; it simply notes it as an available tool. Conclusion FINCOM respectfully submits this recommendation to assist the Select Board in determining override ballot language and amounts, should it choose to place an override on a future ballot. FINCOM remains available to provide additional financial analysis as needed. 8 READING SCHOOL COMMITTEE Shawn Brandt Chair Lara Durgavich Vice-Chair Geoffrey Coram Erin Gaffen Sarah McLaughlin Administrative Offices Thomas Wise 82 Oakland Road Reading, MA 01867 781 944-5800 Henry Turner, Ed.D. Superintendent of Schools TO: Reading Select Board FROM: Reading School Committee DATE: July 24, 2026 TOPIC: Letter in Support of the Finance Committee’s Override Recommendation Members of the Select Board, The School Committee voted 5-0 on July 23rd, 2026 to endorse the Finance Committee’s recommended override position, which is a tiered override at $7.0M and $9.8M. We would encourage the Select Board to also include a third question for $5.0M. The magnitude of cuts that would be necessary on the part of the schools if an override were to fail would be catastrophic for the progress that we’ve made within the Reading Public Schools over the last several years. Among likely cuts or other impacts in various override scenarios, we would have to consider and implement some or most of the following: Increased class sizes Elimination of popular offerings for students, Reconsideration of some of the positions that have supported advancements in the area of learning and teaching Increased user fees for community programs and extracurricular opportunities for students Reinstating tuition for full-day kindergarten We have worked collaboratively with our unions to reach fair contracts in recent years, and expect that they will be excellent partners with us again as we approach FY28. All parties involved understand the economic realities the town and its residents face, and are committed to being good stewards of all resources generously provided to us by Reading’s taxpayers. We respect that the determination of whether to propose an override and what amount(s) to propose is solely within the purview of the Select Board, but as individuals and as a Committee, we believe the Finance Committee’s recommendation is appropriate, reasonable, and necessary to sustain an appropriate level of services for the schools. We ask that you place three questions on the ballot, including those recommended by the Finance Committee in addition to a $5.0M figure, and support the passage of those questions fully and without reservation. The School Committee is prepared to do the same. Respectfully, 9 ___________________________________ ___________________________________ Shawn Brandt, Chairperson Lara Durgavich, Vice Chairperson ___________________________________ ___________________________________ Erin Gaffen, Member Sarah McLaughlin, Member ___________________________________ ___________________________________ Geoffrey Coram, Member Thomas Wise, Member 10 11 S E S N E P X E , S E C I V R E S O T S T U C O N 15 , 2026 FY28 Budget July 15 Financial Forum Town of Reading 16 17 18 19 20 2027 figures assume $3 million in regeneration each year, $8.57 million in uses in - 2026FY26, and $6.475 million in uses in FY27. 21 22 Structural Deficit 23 Structural Deficit 24 10 years 15 years overrides Years between $2,410,512$4,500,000$4,150,000 Amount Override Prop 2 ½ Overrides History Ballot Vote Date 03/23/199304/08/200304/03/2018 25 22 $566.52$169.95$736.47$453.21$113.30$339.91$906.42 Impact Estimated Tax Est. Tax Impact 2 years 3 years $8 million over $6.5 million over Year 1 $5 millionYear 2 $1.5 millionTotal ImpactYr 1 $4 millionYr 2 $1 millionYr 3 $3 millionTotal Impact One Year $453.21$226.61$453.21$566.52$113.30$566.52 $1,133.03$1,246.34 Est. Tax Est. Tax ImpactImpact $10 million $11 million Impacts Spread Over More Than over 3 yearsover 3 years Yr 1 $4 millionYr 2 $2 millionYr 3 $4 millionTotal ImpactYr 1 $5 millionYr 2 $1 millionYr 3 $5 millionTotal Impact 23 24 Levy Limit OverrideBallot Question(G.L. c. 59, § 21C(g)): 1AShall the Town of Reading be allowed to assess an additional $__________ in real estate and personal property taxes for the purposes of funding the operation budget of the Public Schools and the Municipal Government2027? YesNo 1BShall the Town of Reading be allowed to assess an additional $__________ in real estate and personal property taxes for the purposes of funding the operation budget of the Public Schools and the Municipal Government 2027? Yes No 25