# Finance Committee 11-4-2026


**Body:** RCTV Studios
**Date:** November 03, 2026
**Jurisdiction:** SLED

The Reading Finance Committee met on November 4, 2026, to review the election results and their budget implications. The operating override failed, 55% to 45%, while the Community Preservation Act (CPA) measure passed. Members discussed the possibility of a future override, potential voter outreach, affordability concerns, and the CPA’s future uses; they noted that CPA funds would not support the FY 2028 operating budget and would become available for approved projects only after collection and review. Potentially eligible future projects mentioned included Town Hall roof restoration ($550,000, plus $55,000 for design) and Birch Meadow Phase 3 ($1.6 million). No contract awards, bids, or vendor selections were identified.

The committee reviewed scenarios showing that, without an override, budget constraints could require substantial reductions, including potential position cuts, and discussed risks from reliance on volatile investment income and lower-than-expected new growth. It voted 9–0 to recommend using $3 million in free cash to support the FY 2028 budget; the committee did not vote on an operating-budget growth percentage. Members also raised future consideration of free-cash and reserve policies and voluntary separation options. The committee approved the October 14 minutes, with seven in favor and two abstentions.

**Source:** RCTV Studios