Finance panel reviews city's fiscal 2025 audit

Select Board · Meeting of April 29, 2026

Northampton's Finance Committee reviewed the city's fiscal year 2025 independent audit, with auditor Tom Scanlon reporting $7 million in free cash generated and total reserves near 23 percent of the budget. Scanlon called the city's finances "pretty sound" and flagged a $121 million unfunded OPEB liability and $54 million pension liability, the latter not fully funded until 2037. Finance Director Nardi said the city has avoided a tax override since 2020 through its fiscal stability plan but expects less free cash ahead.

Public comment featured pointed questions from Ward 4 resident Tom Riddell, who said rising enterprise fund surpluses suggest residents are "overcharging the residents by a substantial amount each year," and Ward One City Councilor Gwen Bodie, who confirmed the city targets 10 percent combined stabilization reserves. The committee approved minutes from three prior meetings and adjourned on a 4-0 roll call.

In the full story:

• The Full Story
• [01:02:59] — Tom Scanlon, auditor
• [01:21:51] — Tom Riddell, Ward 4 resident, public comment
• [01:42:06] — Finance Director Nardi
• Why It Matters
• Key Motions & Votes
• Source
• Northampton's community access TV: Select Board meeting, April 29, 2026
• The complete report: 868 words

Source: the Select Board meeting of April 29, 2026, reported from the official video recording and transcript.

Checked against the record: before publication this article was automatically compared with the meeting transcript.