Budget & Bond Hearing Outlines 2025 Funding Plans

calendar Feb 6, 2025 · 3 min read · bond articles operating budget capital program road repairs town meeting infrastructure

Budget & Bond Hearing Outlines 2025 Funding Plans

The Waterville Valley Selectboard held a Budget & Bond Hearing on February 6, 2025, to review three bond warrant articles exceeding $100,000 and discuss the 2025 operating budget, as required by New Hampshire state law (link). The meeting, live-streamed on YouTube, detailed a $2.3 million road repair bond, a $1.1 million Tripoli Road project contingent on FEMA funding, and a $100,000 Snow’s Mountain Road engineering bond, alongside operational expenses and public feedback on funding flexibility.

Bond Warrant Articles for 2025

Town Manager Mark introduced three bond articles totaling over $3.5 million (link):

  • $2.3 Million for Roads: Covers engineering, repairs, and reconstruction of town-maintained roads, primarily targeting Boulder Path Road ($1.8 million), with flexibility for West Branch, River, and Packard Roads (link). The broad wording allows adjustments if bids exceed estimates or emergencies arise, like Valley Road drainage issues.
  • $1.1 Million for Tripoli Road: Funds repairs from December 2023 storm damage, with FEMA expected to cover $920,000 (80%), leaving a $230,000 town share. Work includes a major rebuild from the bridge to ski area road and overlays elsewhere, pending FEMA confirmation (link).
  • $100,000 for Snow’s Mountain: Final engineering for road, water, and sewer lines, part of a $6 million potential project rolled into a future bond (link).

The town’s debt limit, set at 3% of valuation ($21.8 million), restricts borrowing to 75% ($16.35 million) for a buffer against market downturns or emergencies (link). Unlike 2024, which used $200,000 of fund balance, 2025 relies solely on tax dollars to build reserves for future costs like the wastewater treatment plant (link).

Operating Budget Highlights

The 2025 operating budget rose by $316,851 (6.8%) to $4,970,991, driven by:

  • Personnel Costs: Up $310,000 due to contractual wage increases, a 4% COLA, and health insurance hikes, maintaining eight full-time and 13 per diem public safety staff (link).
  • IT Upgrades: $19,500 for a new network server and workstations, aiming for a future cloud transition (link).
  • Insurance: A $10,100 increase (excluding health) for workers’ comp and property liability (link).

Additional warrant articles include $58,000 for dumpster replacements, $38,000 (over five years) for police body cameras (with a 50% grant application pending), and $2,000 to establish a Community Power reserve for electricity projects (link).

Public Concerns on Funding Flexibility

Residents questioned the lack of specific road listings in bond articles, preferring clarity over flexibility (link). Mark explained that final engineering and bids, plus FEMA uncertainties, necessitate adaptability, citing past DES-mandated changes to Jennings Peak Road as an example (link). Another concern was unspent budget lines (e.g., $10,000 for lighting vs. $3,000 historical spend), suggesting direct capital reserve funding instead (link). The board noted operational needs and a February 13 meeting to detail road plans (link).

Next Steps

Of 33 warrant articles, six (including the bonds) will be ballot votes, with the rest at the March 11 town meeting. The full warrant will be online post-February 13 (link). The hearing underscored balancing fiscal constraints with infrastructure needs, with further road discussions scheduled.