The Selectmen will meet on Monday and one of the topics they will be discussing is the unrestricted or "free" cash in Chelmsford's municipal budget.
Currently that money is used for emergencies, reducing borrowing amounts on capital projects and to help meet unfunded obligations like the non-pension benefits given to some of the town government's retirees known as OPEB (Other Post-Employment Benefits)
Selectman Janet Askenburg is proposing that only half of "free cash" be used toward those ends, with the other half going back to tax payers.
If passed by the Selectmen, this would help slow the growth of property tax bills, but it could potentially harm Chelmsford's bond rating, which was upgraded due in part to its current free cash policies.
You can see the new proposal attached here, we'll be at the meeting on Monday with more.
In the meantime, what are your thoughts?
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