In a move to strengthen Cohasset's long-term financial reserves, Town Meeting approved Article 7, authorizing the transfer of nearly $4 million into various stabilization and trust accounts. The transfers are designed to prepare the town for upcoming infrastructure costs and manage long-term employee benefit liabilities.

Interim Town Manager Michelle Leary detailed the specific allocations, which included $2,199,712 for the Capital Stabilization Fund and $900,000 for the Roads and Sidewalk Stabilization Fund. Additionally, $615,000 was moved into the OPEB Trust Fund to address future retirement benefits. We are looking to transfer $615,000 from raise and appropriate and free cash to the OPEB trust fund... and $900,000... to the roads and sidewalk stabilization fund, Leary stated.

The move also included a $150,000 transfer to the Sewer Enterprise Fund. These deposits follow a trend of using "free cash" to build financial safety nets, which town officials credit with maintaining the town’s AAA bond rating and lowering interest costs on municipal debt.

Motion: To approve the transfers to stabilization and special funds.

Vote: Passed Unanimously