Finance Committee Reviews FY2027 Budget With Proposed Layoffs
Malden Finance Committee reviewed the proposed FY2027 budget with $240.3 million in estimated revenue. CFO Charles Ranaghan presented the plan for Mayor Gary Christenson, noting property taxes comprise 50 percent of revenue, state aid 37 percent, and local receipts 8.8 percent.
City Council · Meeting of May 5, 2026
Malden Finance Committee reviewed the proposed FY2027 budget with $240.3 million in estimated revenue. CFO Charles Ranaghan presented the plan for Mayor Gary Christenson, noting property taxes comprise 50 percent of revenue, state aid 37 percent, and local receipts 8.8 percent. The budget eliminates ARPA funding, allocates $5.2 million in free cash, $102 million for schools, and $28.9 million for health insurance, while proposing 17 general government and four fire cadet layoffs.
Mayor Christenson stressed that achieving structural balance requires multi-year effort, with FY2027 as phase one.
In the full story:
- The complete report — 330 words
Source: the City Council meeting of May 5, 2026, compiled from the official minutes.
Checked against the official minutes.
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