Article 22. OPEB Trust Fund Appropriation 

ARTICLE 22. To determine whether the Town will raise and appropriate, or transfer from available funds $1,467,851 to the Other Post-Employment Benefits (OPEB) Liability Trust Fund established under Mass. Gen. Laws c. 32B, § 20; or take any other action relative thereto.

Article Explanation

Best practice suggests that both the General Fund and Enterprise Fund contributions to the OPEB Trust Fund should be appropriated by Town Meeting. Based upon the results of the January 1, 2025, OPEB Liability Valuation Report (GASB Statements No. 74 and 75), the following contributions will be made to the OPEB Trust Fund in FY27: General Fund, $1,387,565; Water Fund $21,431, Sewer Fund $9,139, Swim & Fitness Enterprise Fund $10,410, and Broadband Fund, $39,306. Based, upon the results of the January 1, 2025, valuation, no annual contributions are required from the Light Fund.

Article Motion

That the Town raise and appropriate $1,387,565; and transfer $21,431 from Water Fund, $9,139 from Sewer Fund, $10,410 from Swim & Fitness Fund, and $39,306 from Broadband; for a total appropriation of $1,467,851 to fund the Town’s FY27 contribution to the Other Post-Employment Benefits Liability Trust Fund (OPEB Trust) established under Mass. Gen. Laws c. 32B, §20.