Southampton Select Board Approves Trust Withdrawal, Joins Finance Committee on $2.4M Budget Gap

Select Board · Meeting of March 3, 2026

Southampton faces a projected $2.4 million budget gap for fiscal year 2027, with a Proposition 2½ override now likely before the May 2 town meeting. Town Accountant Scott presented a revenue forecast of approximately $22.155 million at the March 3 joint Select Board and Finance Committee session, citing a 40 percent health insurance spike of more than $400,000, a $300,000 rise in the Hampshire Regional School District assessment, and new growth expected to fall to around $100,000, down from a recent high of $206,000. The Norris School's restorative budget ask stands at $750,000, representing cuts made after last year's failed override, which Finance Committee member Reggie called "a huge ask" given it represents a 15 percent year-over-year increase.

Select Board Chair Chris Fowles and member John Lumber both said the town must prepare two parallel budgets, one assuming an override passes, one showing what services survive if it does not, with a budget task force meeting scheduled for this Thursday.

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Source: the Select Board meeting of March 3, 2026, reported from the official video recording and transcript.