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The Finance Committee received a forecast of a $2.8 million deficit for FY2027, with estimated state receipts of $14.9 million, local receipts of $11.5 million, and $11.4 million in projected year-end FY2026 free cash. The committee also reviewed department budget requests, including $7,966,688.09 for the Fire Department and $640,000 for general insurance.
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Wakefield's preliminary FY2027 forecast shows spending exceeding expected revenue by $2.8 million, although projected free cash could help address the gap. The committee reviewed several department budgets but did not record final approval of the FY2027 budget in these minutes. Fire officials reported 2,100 additional calls last year, overtime nearly twice the budget, and plans for a staffing study.
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