Whitman Finance Committee Approves $22,577 Transfer to Resolve School Debt Dispute

WHITMAN -- July 8, 2025, Whitman Finance Committee unanimously approves $22,577.75 reserve fund transfer to resolve a Whitman-Hanson Regional School District interest billing dispute before the fiscal year 2025 deadline. Town Accountant Mary Beth Carter explained that the district borrowed $8 million for a bond anticipation note in May 2024, $2 million more than the $6 million figure presented to town meeting, at a rate of 5.875 percent, and that a subsequent billing revision by the district's former interim treasurer improperly subtracted a reoffering premium, reducing the town's invoice from $191,000 to $169,000 in error. The transfer of $22,577.75 covers the gap and draws the town's $35,000 reserve fund to near zero ahead of its July 15 expiration date. Town consultant John Adams recommended the move, warning that "fiscal 26 is not going to be better than 25." The committee also approved five routine end-of-year line item transfers totaling $13,062.25 covering building inspector salaries, payroll taxes, Conservation Commission recording secretary pay, unpaid electricity bills, and elevator inspection invoices.