Relive the excitement of the Patriots’ path to their fourth Super Bowl Championship with “Pumped,” a special commemorative book from The Boston Globe.

Saugus

Recent vote moves $1 million to stabilization fund

Continue reading below

Town Manager Scott Crabtree says a recent vote by Town Meeting to move $1 million into the stabilization fund was another positive step for Saugus in restoring its financial health after the fiscal crisis of two years ago. The unanimous Town Meeting vote came on the recommendation of Crabtree and the Finance Committee. The $1 million transfer from free cash brings the stabilization fund — the town’s rainy-day account — to $1,875,000, according to Crabtree, up from $525,000 in 2012. He said that having a sizeable stabilization fund will help Saugus with its ongoing efforts to improve its bond ratings, which in turn would save the town and its taxpayers future borrowing costs. “This is going to help the overall financial health and flexibility of the town,” Crabtree said. “This is the largest one-time deposit in the rainy-day stabilization fund in Saugus.”

Loading comments...

Wake up with today's top stories.

Want each day's news headlines delivered fresh to your
inbox every morning? Just connect with us
in one of the following ways:
or
Please enter a valid email
BostonGlobe.com will never post anything without asking. Privacy Policy
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com