Board authorizes $500K utility reserve withdrawal; June repayment plan sought
The Select Board voted 5-0 to authorize a $500,000 withdrawal from the electric utility's rate stabilization fund and unanimously approved the electric department's FY27 budget.
Select Board (Formerly Board of Selectmen) · Meeting of March 30, 2026
IPSWICH — The Select Board voted 5-0 to authorize a $500,000 withdrawal from the electric utility's rate stabilization fund and unanimously approved the electric department's FY27 budget. Michael S. Dougherty, Vice Chair, moved the fund authorization, committing the board to revisit the decision and develop a replenishment plan by June.
Board member Linda D. Alexson raised concerns about the fund's effective availability, noting that only about $2 million of the $3 million balance is usable due to reservations for plant decommissioning, and requested updated projections and a repayment plan.
In the full story:
- The complete report — 389 words
Source: the Select Board (Formerly Board of Selectmen) meeting of March 30, 2026, compiled from the official minutes.
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