Oakham Finance Committee approves dues payment, plans debt review and treasury meeting.

OAKHAM — August 12, 2025 — Oakham Finance Committee reviews mounting debt decisions, aging highway fleet, and treasury staffing at August session. The three-member committee, chaired by Corey Packard and joined by members Claire Hendra and Vinny, voted unanimously to pay its $150 annual dues to the Massachusetts Municipal Association's Association of Town Finance Committees — the meeting's sole formal vote. Much of the 75-minute session centered on whether to use the town's capital stabilization fund to retire outstanding debt on the municipal building, estimated at roughly $250,000 in remaining principal with approximately $105,000 in future interest, or on the fire truck, which carries about $85,000 in principal and $40,000 in annual interest under a short-term loan requiring refinancing. A Select Board member attending as a guest confirmed the Quabbin Regional school roof assessment will be fully paid with one remaining payment in fiscal year 2027, effectively closing that question. Highway Superintendent Patrick's recent inspection report on two aging plow trucks — a 1996 model and a 2004 Vermont-purchased unit, both given one-year stickers — prompted discussion of a possible replacement truck at roughly $250,000, potentially covered by Chapter 90 funds that may reach $600,000 this fiscal year. The committee raised concern that the contracted treasury firm's actual hours are likely exceeding the 15 hours per week budgeted for the position, with stabilization funds possibly needed to cover the gap through June 30. The committee's next regular meeting is set for September 10 at 7:00 p.m.