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The Board of Finance unanimously approved adding a 2026 John Deere 544P-Tier wheel loader and related equipment to a five-year capital lease, increasing annual lease payments by $49,000. It also approved moving the replacement of a no-longer-serviceable 2003 Volvo wheel loader from fiscal years 2029–30 to 2026–27 and accepted an annual grant of up to $12,808 for the MYFS Summer Youth Employment Program.
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Madison will move forward with replacing an aging Public Works wheel loader sooner than previously planned. The lease will raise annual payments by $49,000; the minutes state that the reserve can absorb the increase now, but the capital plan balance will need to be reviewed in the third year. The Board also approved recurring grant funding for a summer youth employment program.
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