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The subcommittee completed its review of draft financial policies and agreed they should be revised and finalized before presentation to the full Select Board and Finance Committee. The materials will not be transmitted until after the Special Town Meeting; proposed debt language includes a goal that non-exempt debt not exceed 10%.
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The proposed policies would guide Andover’s use of stabilization funds, capital planning, borrowing, and cash funding. Members requested clearer information for residents about long-term facility needs, replacement schedules, and master plans, while preserving flexibility for renovations, new construction, and emergency capital needs. Final policy materials are expected to return to the full boards after the Special Town Meeting.
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