Southampton Select Board Approves Trust Withdrawal, Joins Finance Committee on $2.4M Budget Gap

Select Board · Meeting of March 3, 2026

Southampton faces a projected $2.4 million budget gap for fiscal year 2027, with a Proposition 2½ override now likely before the May 2 town meeting. Town Accountant Scott presented a revenue forecast of approximately $22.155 million at the March 3 joint Select Board and Finance Committee session, citing a 40 percent health insurance spike of more than $400,000, a $300,000 rise in the Hampshire Regional School District assessment, and new growth expected to fall to around $100,000 — down from a recent high of $206,000. The Norris School's restorative budget ask stands at $750,000, representing cuts made after last year's failed override, which Finance Committee member Reggie called "a huge ask" given it represents a 15 percent year-over-year increase.

Select Board Chair Chris Fowles and member John Lumber both said the town must prepare two parallel budgets — one assuming an override passes, one showing what services survive if it does not — with a budget task force meeting scheduled for this Thursday.

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Source: the Select Board meeting of March 3, 2026, reported from the official video recording and transcript.