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Greenwich closed 105 capital projects totaling approximately $6.99 million across the B and Z funds, reducing authorized and issued debt and improving the capital outlook by pushing the projected fiscal pressure point out about one to two years.
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Closing completed capital projects allows unused balances to reduce debt or support other approved projects. The committee will focus next on the oldest and largest projects still open, including the Round Hill Fire Station. Members also agreed that future capital models should clearly separate actual financial data from scenarios and revisit the assumed $3 million annual capital tax levy increase.
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