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The committee discussed reserve policies and long-term capital needs, with comparative data indicating that Andover’s reserve levels are relatively low compared with peer communities according to Standard & Poor’s.
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Members reviewed draft budget materials and considered how free cash and stabilization funds should be used. They discussed maintaining flexibility for operations, infrastructure, deferred maintenance, and future capital projects while avoiding overly rigid policies. No final changes to reserve policies or other financial policies were recorded, and approval of three prior sets of minutes was delayed.
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