School Committee

Wakefield Budget Faces Major FY27 Gap

The FY27 budget model projected a $1.355 million deficit, with reserves potentially falling below the town’s 10% policy minimum by FY28 and to 2% by FY30 and FY31. Officials discussed reducing the gap through budget cuts, eliminating the FY27 OPEB contribution, and delaying a $350,000 parking lot project, but made no final decision.