Nantucket Finance Committee Unanimously Approves $2.8 Million in Year-End Budget Transfers

Finance Committee · Meeting of July 13, 2026

Nantucket Finance Committee approves more than $2.8 million in year-end budget transfers. The committee, presided over by Vice Chair Joanna Roche, voted 7-0 three times Monday to approve a package of Section 33B general-fund transfers, enterprise fund adjustments, and a reserve fund draw to close out fiscal year 2026. The largest item, roughly $1.6 million in salary restorations, was the direct result of a deliberate FY26 budget strategy that cut every general-fund department's salary line by a proportional share of $2.25 million at the start of the year; staff described the year-end correction as expected and not a sign of overspending.

Enterprise fund transfers moved $485,000 from Our Island Home salary accounts to operating to cover contracted travel nurses, and $175,000 from sewer salaries to sewer operating due to ongoing hiring vacancies, with staff noting contracted nursing staff cost "more or less double" the salary of a permanent hire. A $280,000 reserve fund draw covered $100,000 in legal services, $100,000 for the town clerk, and $80,000 for fuel. The committee also discussed a roughly $500,000 estimated water revenue shortfall from a 20-million-gallon drop in June water sales, with staff suggesting the water enterprise's retained earnings could serve as a one-time backstop pending deeper analysis.

In the full story:

• Who Was There
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Source: the Finance Committee meeting of July 13, 2026, reported from the official video recording and transcript.