$(1,124,472)water reserve at December 31, 2025, down from $(58,935) a year earlier
A reserve is money a town sets aside, on paper, for a named purpose. The Town's water reserve stood at $558,389 at the end of 2023, was $(58,935) at the end of 2024 and was $(1,124,472) at the end of 2025. A negative reserve means the water fund has spent more than it has set aside. By our own arithmetic, the water reserve fell by $1,065,537 in 2025 (worked out by us). In the same year the working capital reserve rose to $2,162,645 from $1,921,176. The 2025 budget slides list a water capital project of $1,273,404 and long-term borrowing of $775,000 for the water project, but the statements do not say that the water project caused the drop.
$985,000temporary borrowing at December 31, 2025, up from $559,075
Council was asked in the 2025 budget to confirm $775,000 of long-term borrowing for the water project. At December 31, 2025 the statements show temporary borrowing of $985,000, up from $559,075, and do not show a separate long-term debt line. The Town owed $1,479,665 in accounts payable and accrued liabilities, up from $886,701. The Town's credit arrangements are large enough to cover this: revolving facilities of $2,765,600, of which $985,000 was used.
$2,269,896landfill closure and care cost recorded at December 31, 2025, with no reserve for it
Accounting rules make a town record the future cost of closing and monitoring its landfill as a debt now. At the end of 2025 the Town recorded $2,269,896 for the landfill, and the statements list it under "Unfunded liabilities", which means no money is set aside for it. The garbage reserve is also below zero, at $(34,244). The statements say the most recent waste capacity study was dated October 2018, and give 39.0% of the landfill's capacity as remaining.
$330Kowed in unpaid property tax, end of 2025
At the end of 2025, $330K of property tax had been billed but not paid. That is 14% of everything billed. Only 5 of 27 similar towns had a higher share. A year earlier it was $241K.