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The Finance Committee and Select Board subcommittee reviewed revisions to Andover’s financial policies, including a proposed $35,000 threshold for capital improvements and guidance for a capital stabilization fund supporting projects estimated at about $10 million.
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The revised policies would guide how Andover plans for major projects, uses reserves, manages water and sewer finances, and sets rates. The changes discussed were not presented as final approvals; members asked for further review in a consolidated document. The subcommittee is scheduled to revisit the minutes and policy revisions at upcoming meetings.
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