Will Vote on Stabilization Account be Reconsidered?

At the last Town Meeting session on , Town Meeting members did not end up approving two motions that would have added money to a stabilization fund, which in essence is a “rainy day” account.

The Finance Committee made a motion to put $1,441,757 into the stabilization fund by taking $482,836 from free cash, $441,757 from the Tax Levy, and taking $500,000 from the retained earnings of the Public Health Department.

The vote on this motion lost 60-58, as concerns were raised over taking $500,000 from the retained earnings of the Public Health Department. Lisa Parent, director of the Stoughton Public Health Department, spoke out against doing this.

So, an alternative motion was made to put more than $900,000 in the stabilization fund, subtracting the $500,000 that would have been taken from the retained earnings of the Public Health Department.

While this motion was supported 76-51, it did not get the required two-thirds vote needed to officially pass. A 2/3 vote with 127 members voting needs an 85-42 margin to pass, so the motion fell nine votes short of that threshold.

At Tuesday night’s School Committee Meeting, Chairman Tom Colburn said he had spoken with John Stagnone and Holly Boykin, chairmen of the Board of Selectmen and Finance Committee, respectively, and all three “feel strongly” about adding funds to the stabilization account.

“What will the future bring?” Colburn asked, stressing the importance of having funds in a stabilization account. 

Doing so not only gives the town money to spend in emergency situations, but also helps to improve Stoughton’s bond rating, town leaders have said. 

The votes on the stabilization fund (Article 16) were the final act of Monday’s Town Meeting session. Town Meeting resumes Wednesday, May 11 at 7:30 p.m. at the Stoughton High auditorium, and whether or not a vote on stabilization funds is revisited remains to be seen.

Mark Snyder contributed reporting to this article.