ATHOL – Town Manager Shaun Suhoski went before the Finance and Warrant Advisory Committee Tuesday night to present his revenue projections for the next fiscal year, which begins July 1.

“As every year,” he began, “the largest revenue source is the property tax levy, including the override that was passed last year. We’ll hit almost $16.5 million in property tax levies, plus a 2½ % increase to $412,000 for the override. The assessor gives a preliminary number of $150,000 – she feels comfortable projecting for new growth. We’ll hit that target.”

Suhoski said the new growth figure may actually come in higher than predicted because “we have completed the sale of the Ellen Bigelow/Riverbend schools, now owned by NewVue Communities. So, now that’s on the tax rolls. Depending on how much work they get done between now and July 1, that will provide some semblance of new growth. The full amount will probably hit in the next fiscal year (FY27).”

In addition, the long-closed parking garage is no longer town-owned. Suhoski explained that Fitchburg developer Bill Krikorian took ownership of that property in January, with an eye toward building a 43-unit housing development.

“He hasn’t pulled any building permits yet,” said Suhoski, “but at least we don’t own it. But each of those properties will pay us a pro-rated tax between now and the end of the year.”

The total projected revenue from property taxes, according to the town manager’s report, is just over $17 million. Monies collected to pay for various debt exclusions totaled $1.7 million, for a total tax revenue of $18.7 million. Motor vehicle excise taxes will likely generate $1.2 million, with another $175,000 coming from penalties and interest.

When figuring in a variety of other revenue streams, including departmental receipts, various fines, investment income, and state aid, Suhoski and his financial team estimate total revenues for FY26 at just over $25.7 million. That amount represents an increase of approximately $610,000 over the current fiscal year.

“Now, that sounds pretty good,” said Suhoski, before providing a reality check on the budget those monies will need to pay for.

“Health insurance went up 18%,” he said. “That’s $285,000. The retirement assessment goes up plus or minus 10% per year; that’s $220,000. The preliminary assessment for Monty Tech is up $35,000, because our headcount went up this year. And the regional school district – there’s a minimum state-required local contribution. I believe our contribution is $215,000 – it could be $205,000. But our assessment has to go up. So, we’re talking a total of three-quarters of a million dollars, against $610,000 in new revenue.”

“So we’re starting from a negative,” he added. “We also have all the collective bargaining agreements open. When you look at all the departments’ requests, which do include more hours in some departments – I don’t have a solution yet. We’re working through it. We’re going to go through it very carefully. We’ll be sharing more information soon. But there’s a bit of a gap – a big bit of a gap – to make up.”

Suhoski went on to tell the committee, “I don’t see any new staffing, no matter how much we need it or what we need it for. There’s no money for it.” He went on to say that all existing programs would be examined to “see how tightly we need to tighten the belt.”

The town manager said it is still be determined whether Athol can afford to contribute to the town’s stabilization fund, whether the town will need to “dip in” to that account in order to maintain core services.

“The internal finance team constantly revisits the revenue side,” said FWAC Chair Ken Duffy. “But the further this goes, there’s no ‘good’ number that will all of a sudden appear. We could see a little bit more here or there, but it won’t be much. There’s no $500,000 that will show up.”

Duffy noted that the FWAC, Selectboard and Capital Program Committee will meet “and we’ll get exposed to what we have for expenses and, at that point, that’s when the work then starts to see if we can get this (budget) straightened out.”

Greg Vine can be reached at gvineadn@gmail.com.