Select Board addresses Capital Expenditure Fund reporting discrepancy
Holliston Select Board addresses Capital Expenditure Fund reporting discrepancy. Town Manager Frank Gervasio revealed that beginning in fiscal 2022, amounts appropriated at Town Meeting were not accurately reflected in fund transfer reporting, leaving the fiscal 2027 fund balance at $704,000,
Select Board · Meeting of July 27, 2026
Holliston Select Board addresses Capital Expenditure Fund reporting discrepancy. Town Manager Frank Gervasio revealed that beginning in fiscal 2022, amounts appropriated at Town Meeting were not accurately reflected in fund transfer reporting, leaving the fiscal 2027 fund balance at $704,000, roughly $830,000 short of the town's financial policy requirement. The board unanimously approved a $30,000 Community Preservation Committee funding request to participate in a regional shared housing services pilot program with the Town of Hopkinton, designed to support residents seeking affordable housing options.
External auditors will review the discrepancy as the town engages a third-party consultant for fiscal 2025 closeout.
In the full story:
- The complete report — 584 words
Source: the Select Board meeting of July 27, 2026, compiled from the official minutes.
Members read the rest of this story and every Holliston meeting we cover, in full.
Become a memberAlready a member? Sign inA 30-day free trial needs a payment method. After it, your membership renews at the price shown at checkout until you cancel, which you can do anytime from your account. Subscription terms
Share this brief
Know someone in Holliston who follows town government? Share Townbrief Holliston: they can sign up free.