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The committee voted 4-0 to recommend budgeting $6 million in General Fund interest income for fiscal year 2027, up from the $5 million figure discussed. Members also agreed to continue monitoring the OPEB portfolio manager and to take a deeper look at the Connecticut Short-Term Investment Fund.
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The recommendation could increase the interest revenue assumed in the fiscal 2027 budget, although the Budget Committee will consider it. The committee reported that the OPEB portfolio was valued at $64.2 million on January 31 after earning $1.1 million in January, but it lagged its benchmark. Town cash totaled $378 million, including $232.9 million in the General Fund, and members reviewed how to balance investment returns with the need to keep cash available.
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