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The subcommittee began reviewing Andover’s finance policies, many of which date to 1990, and identified outdated thresholds, reserve percentages, debt rules, and capital-planning language for possible revision.
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The review could make the town’s financial policies more flexible and better aligned with current conditions, including Department of Revenue guidance and inflation. Members discussed revising rules for free cash, stabilization funds, water and sewer financing, capital projects, and long-term debt, but no policy changes were adopted at this meeting. The Water and Sewer section was tabled for later discussion.
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