Article 20 - OPEB Trust Fund Appropriation

ARTICLE 20. To determine whether the Town will raise and appropriate, or transfer from available funds, the sum of $1,467,851, or any other sum, to the Other Post-Employment Benefits (OPEB) Liability Trust Fund established under Mass. Gen. Laws c. 32B, § 20; or take any other action relative thereto.

Article Explanation

Best practice suggests that both the General Fund and Enterprise Fund contributions to the OPEB Trust Fund should be appropriated by Town Meeting. Based upon the results of the January 1, 2024 OPEB Liability Valuation Report (GASB Statements No. 74 and 75), the following contributions will be made to the OPEB Trust Fund in FY26: General Fund, $1,401,347; Light Fund, $50,761; and Broadband Fund, $15,743.   Based, again, upon the results of the January 1, 2024 valuation, no annual contributions are required from the Water, Sewer or Swim & Fitness Enterprise Funds.

Article Motion

TBD