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The subcommittee said revised financial policies, including a proposed Capital Stabilization Fund policy, are nearing completion but should not be sent to the full Select Board and Finance Committee until after the Special Town Meeting. Members also discussed a policy goal that non-exempt debt should not exceed 10%.
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The draft policies would guide how Andover plans for major building projects, other capital needs, borrowing, and stabilization funds. Revisions would add long-term facility planning, public information about replacement schedules, bond-rating considerations, and clearer debt-management language. The materials will be updated before being presented for broader consideration, and the subcommittee approved minutes from its April 15 and May 5 meetings.
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