The Great Barrington Select Board has agreed to a financial guideline that advises that, for every five-year period, the town makes every effort to limit the average yearly long-term borrowing to $3.5 million or less.
News Reporter
The Great Barrington Select Board has agreed to a financial guideline that advises that, for every five-year period, the town makes every effort to limit the average yearly long-term borrowing to $3.5 million or less.
GREAT BARRINGTON — The Select Board and Finance Committee agreed on a non-binding guideline to limit the town’s average long-term borrowing to $3.5 million a year.
In addition to the town’s share of the $89 million high school project voters approved in November, Great Barrington has a long list of projects with a hefty price tag to complete. They range from road and building maintenance to a $3 million temporary bridge and a Ramsdell Library renovation that could cost about $5 million.
The Finance Committee first proposed a cap on yearly borrowing for capital projects in September. At the time, the two boards agreed that something was needed to avoid sudden increases, but couldn’t agree on how.
“The thought was it would be helpful to have something in writing that really both encourages us as committees to set some limits, but also lets people in the town know that we are really trying to set some restrictions on borrowing,” Finance Committee member Anne O’Dwyer said during Monday’s meeting.
Members of both groups disagreed on whether it was the right year to implement the guideline because this is Town Manager Liz Hartsgrove’s first budget season with the town. But O’Dwyer asked that the decision be tailored to everyone who works on the budget, not just the town manager.
O’Dwyer added that she is not a fan of borrowing and is also concerned about how much the town has been borrowing.
“I’ve never been in a community that has borrowed so much, and it makes me extra nervous,” Hartsgrove said. “I like to buy things with free cash, not borrowing.”
The guideline was approved 3-2 by the Select Board, with Philip Orenstein and Eric Gabriel voting no, and was unanimously approved by the Finance Committee.
In November, the board delayed a committee proposal that required the town to keep annual long-term borrowing from the general fund at $3.5 million or less, unless it was an emergency, to prevent debt payments from growing too large.
At the time, board members said the proposed limit was too restrictive, the definition of “emergency borrowing” was too vague and that the timing was off because the new town manager had just started.
The Finance Committee brought up the topic again on Monday. Its chair, Richard Geiler, said the committee felt it was important to add a written clause to the document and wanted the two groups to come up with something together.
“We need to show that we’re not a runaway train,” Finance Committee member Madonna Meagher said. “We’ve got residents, including me, that are desperate to keep things under control. I would think we’d welcome it and think that we’re doing our due diligence.”
The Select Board was hesitant at first, with Chair Steve Bannon and other members arguing there wasn’t a need. He noted the two groups are “the gatekeepers” to the town meeting, so even if a town manager requested increased borrowing, the Finance Committee or Select Board could adjust.
The five-member Finance Committee reviews the town manager’s proposed budget and makes funding and policy recommendations to Town Meeting, which has final approval authority, while also overseeing reserve fund transfers.
Additional hesitations loomed, especially for Orenstein and Gabriel, who wanted Hartsgrove to go through a budget season her way, as she is bringing outside and new experience to the town.
“I understand we want to get spending under control, and especially debt service,” Orenstein said. “We’ve also had a lot of projects that have needed to get sorted out and get enough speed. No one here is going to argue that we want to have more debt.”
But after discussion, a compromise was reached that this would be a suggestion, not a requirement.
During the same meeting, the board also approved all license renewals for 2026 and approved a new innholder license for Tim Martin of Berkshire Mountain Inn LLC for an 11-room inn that includes a detached carriage house at 518 S. Main St.
Hartsgrove also announced the South County Connector will once again be offering free rides on New Year’s Eve, from 5 p.m. to 1 a.m. around South County. She added that surveys looking for feedback on the Ramsdell Library Renovation project will be available at town buildings.
Talia Lissauer can be reached at tlissauer@berkshireeagle.com and 413-496-6378.
The tax rate in Great Barrington is once again down, but as home values continue to go up, residents will still be paying more.
The Select Board voted to table a change to the town’s finance policy that would cap borrowing at $3.5 million, citing concerns that the restriction could make it harder for the town to fund essential capital projects.
News Reporter
The Select Board and Finance Committee have agreed to a financial guideline that advises that, for every five-year period, the town makes every effort to limit the average yearly long-term borrowing to $3.5 million or less.
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