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The subcommittee began reviewing Andover’s 1990 capital improvement and financial policies, with the goal of revising them over approximately the next four meetings. Members discussed replacing rigid dollar and percentage requirements with more flexible policies tied to current conditions and Department of Revenue guidance.
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The review could change how Andover manages free cash, stabilization funds, capital projects, water and sewer finances, and long-term debt. Members raised concerns that several existing thresholds and reserve targets may be outdated because of inflation, changing financial conditions, and major construction needs. No final policy revisions were adopted at this meeting.
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