Finance Committee establishes timeline for FY2027 budget cycle
Finance Committee set timeline for FY2027 budget amid fiscal challenges.
City Council · Meeting of April 14, 2026
MALDEN — Finance Committee set timeline for FY2027 budget amid fiscal challenges. The Malden Finance Committee, chaired by Carey McDonald, discussed major budget drivers including a $5 million swing in state aid and approximately $3 million in projected health insurance savings from a shift to the state Group Insurance Commission. The committee established a timeline: April 28 for mayoral submission of the budget and June 16 for the full council's final vote.
Savings from the health plan transition will be partly allocated to employees as a mitigation fund per state law. The committee also reviewed the city's insurance coverage, which includes $100 million in boiler and machinery limits and $50 million in property coverage, but lacks workers' compensation and auto insurance.
In the full story:
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Source: the City Council meeting of April 14, 2026, compiled from the official minutes.
Checked against the official minutes.
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