Free Cash

Fiscal Year 2022 Free Cash Expenditures included Financial Policy Requirements, Grant Matches (Meaning the City applied for funding to stretch the money), Budgetary Corrections, Capital Projects, Planning Expenditures, and Unanticipated Expenditures.

Gardner MA “Free Cash” Fiscal Year 2023 certified by State at $2.6 million

According to the State of MA Division of Local Services, free cash should be restricted to paying one-time expenditures, funding capital projects, or replenishing other reserves. It is recommended that free cash not be used to supplement current departmental operations so that department heads produce accurate and realistic annual appropriation requests.

Gardner Mayor Michael Nicholson has stated he favors allocating 13% of free cash towards paving projects and earlier this year he stated he wanted to do something about the Greenwood Pool Building. In different interviews, various City officials have made various use suggestions. City Council must approve whatever proposed uses the Mayor puts forward.

In Fiscal Year 2022, (shown in chart), almost $600,000 was spent on road resurfacing, just under $200,000 went to Stabilization, over $300,000 went to Snow and Ice, over $100,000 went to Fire Department overtime, over $200,000 went to a Street Sweeper, over $100,000 went to athletic field renovations, $100,000 went for Music Support at the Schools, $100,000 for the upcoming Centennial celebration, and over $400,000 was allocated to new parks. As you can see, most of the expenditures match the exact scope of the uses the Division of Local Services suggests.