Melissa Russell
Just how much of an override will Belmont residents be able to stomach?
That was the key question at the Jan. 8 Select Board meeting, as members discussed how much of an override to present to voters to preserve the current level of town and school services over the next three years.
“Failure of an override to pass would be a very calamitous event,” Board Chair Roy Epstein said.
Belmont faces a $6.75 million gap in the next fiscal year, which will grow over the following two years as expenses are expected to increase faster than revenue.
Calling the current budget situation “grave,” Epstein said the question was how much of an override would be necessary to “preserve the existing headcount,” of town and school workers with no growth over the next three fiscal years.
The board discussed an override amount ranging from $7.55 to $8.4 million, or even higher.
In the fall, the Warrant Committee began budget discussions modeling scenarios through fiscal year 2027 to see what would happen with no override, or with an override at various levels.
“I thought it was important to do this exercise, because there might be speculation that somehow you could get by with less of an override, and not have a real effect on town services,” Epstein said.
The town and schools would have to cut the equivalent of 75 full-time positions without an override of $7.55 million, “which is enormous,” Epstein said.
He added an override of $4 million would result in a $3.5 million budget shortfall in the first year, leave no funds for the following year and exhaust all free cash — those one-time funds that come from sources like state or federal aid or unused revenue.
An override of $8.4 million would increase funds available for schools, less than what the schools are looking for, but “will take them part of the way there,” regarding salaries and operating expenses. It would also allow the town to double the sidewalk budget.
Epstein added an override in the double digits would be more in line with meeting budgetary needs, but “I don’t think double-digit would be successful.”
“I think it is too big of a risk right now. If an override is not successful in the spring, the FY25 budgets need to be ready to go within a month of Town Meeting and if the money is not there, pink slips will have to go out immediately. It’s a very serious situation,” he said.
Epstein harkened back to budget discussions of 2021, during which the town was warned if they didn’t pass an override that year, it would be setting the stage for a larger override in the future. That override failed to pass.
“What we have here is something pretty much in line with that prediction,” he said.
The Warrant Committee will meet on Jan. 17 and the Select Board will vote on the override question on Jan. 30.
