Minutes
Finance Committee · from the Town's website · 18 pages · 1.5 MB
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Winthrop Board or Committee Public Body Minutes
Councilor Tassinari, Chair
Councilor Dimes
Name of Public Body: Finance Committee
Date and Time of Meeting: Thursday February 12, 2026 5:30 PM
Location of Meeting: Harvey Hearing Room
Attendance: Committee Members Councilor Dimes, Councilor Tassinari
Council Members – Council President Letterie
Town of Winthrop – Sarah Johnson, Robbie Powers
Citizens Advisory Committee on Finance – Karin Chavis
AGENDA
Town Council Appropriate Retained Earnings in the Ferry Enterprise Fund $20,000/Cover Cost FY26
Town Council Appropriate Retained Earnings in the Rink Enterprise Fund $20,000/Extra Ordinary
Repairs
Town Council Vote to Appropriate Certified Free Cash
Call to order 5:31PM Councilor Tassinari.
Attendance roll call: Councilor Dimes & Councilor Tassinari present.
Motion for favorable recommendation to appropriate from Ferry Enterprise Retained Earnings. Discussion
involving retained earnings balances, the request was made to include retained earnings balances from certified free
cash in the budget books, with the caveat that those balances are not available after 7/1 annually until Dept of
Revenue certifies them as free cash.
Favorable recommendation PASSED 2-0.
Motion for favorable recommendation to appropriate from Rink Enterprise Retained Earnings for mechanical
repairs.
Favorable recommendation PASSED 2-0.
Motion for favorable recommendation to appropriate Free Cash based on the allocation policy. Discussion around
allocation policy and healthy state of stabilization funds and remaining amounts in free cash that may be needed to
cover snow and ice expenses for this summer.
Favorable recommendation PASSED 2-0.
Motion to adjourn passed 6:00PM
TOWN OF WINTHROP
Anthony Marino
Town Manager
Town Council Motion
OFFICE OF THE TOWN MANAGER
Town Hall, 1 Metcalf Square, Winthrop, MA 02152 Telephone: 617-846-1077 Fax: 617-846-5458
February 3, 2026
Motion Summary
Title: Ferry Enterprise Fund Appropriation
Motion ID: TCM26-005
Amount: $20.
000
Funding Source: Ferry Retained Earnings
Mouton Details
Motion Type: Appropriate
Submitted by: Anthony Marino, Town Manager
Date Submitted: February 3, 2026
Text of Motion
MOTION: I move that the Town Council appropriate retained earnings in the Ferry
Enterprise Fund, in the amount of $20,000, to cover the costs that the fund has/will incur
in FY26. Currently these expenses include insurance. The Finance Office will apply the
funds to the various accounts where expenses are incurred; or take any other action
Fiscal Year 2026
thereto.
Funding Details
Funding Source Funding Destination
Account Description Amount Account Description Amount
660-359000 [Retained Earnings [$20,000 Multiple arious Ferry Accounts {$20,000
Ferry Retained Earnings:
Amount Requested:
$132,837
$20,000
Ferry Retained Earnings after motion approval:
$112,837
TOWN OF WINTHROP
OFFICE OF THE TOWN MANAGER
Town Hall, 1 Metcalf Square, Winthrop, MA 02152 Telephone: 617-846-1077 Fax: 617-846-5458
Anthony Marino
Town Manager
Town Council Motion
February 3, 2025 Fiscal Year 2026
Motion Summary
Title: Rink Extraordinary Mechanical Repairs
Motion ID: TCM26-004
Amount: $20,000
Funding Source: Rink Enterprise Fund Retained Earnings
Motion Details
Motion Type: Appropriate
Submitted by: Anthony Marino, Town Manager
Date Submitted: February 3, 2025
Text of Motion
MOTION: I move that the Town Council appropriate from Retained Earnings in the Rink
Enterprise Fund, the amount of $20,000, for extraordinary repairs and maintenance of the
mechanical equipment at the ice rink; or take any other action thereto.
Funding Details
Funding Source Funding Destination
Account Description Amount Account Description Amount
|672-359000 [Retained Earnings |$20,000 167267252-524107 |REPAIR/MAIT OF $20,000
INFRASTRUCTURE
Rink Retained Earnings Balance: $167,217
Amount Requested: $20,000
Rink Retained Earnings after motion approval: $147,217
TOWN OF WINTHROP
OFFICE OF THE TOWN MANAGER
Town Hall, 1 Metcalf Square, Winthrop, MA 02152 Telephone: 617-846-1077 Fax: 617-846-5458
Anthony Marino
Town Manager
‘Town Council Motion
February 3, 2026 Fiscal Year 2026
Motion Summary
Title: Free Cash Allocation
Motion ID: TCM26-006
Amount: $2,004,141
Funding Source: Free Cash
Motion Details
Motion Type: Appropriate
Submitted by: Anthony Marino, Town Manager
Date Submitted: February 3, 2026
Text of Motion
MOTION: I move that the Town Council vote to appropriate Certified Free Cash as listed
below; or take any other action thereto. Free Cash and Retained Earnings certification file
is attached.
Funding Details
|Certified Free Cash as of 7/1/2025 2,783,529.00
[Set Aside (278,352.90)
[Available to allocate 2,505,176.10
|
(Stabilization Funds Current Balance _|Free Cash Allocation {Ending balance
|General Stabilization §,250,845.00 751,553.00 | 6,002,398.00
|Capital Stabilization 1,789,428.00 1,113,243.00 | 2,902,671.00
|Building Stabilization 235,810.00 64,190.00 300,000.00
[Education Stablization 1,504,989.00 75,155.00 | _1,580,144.00
i}
| AN AY |
|Ending Free Cash Balance | | 779,388.00 |
MASSACHUSETTS DEPARTMENT OF REVENUE Winthrop
DIVISION OF LOCAL SERVICES TOWN
Free Cash Certification
Free Cash Calculation - Fiscal Year 2026
Begin:
Unreserved Undesignated Fund Balance
Subtract:
Personal Property Tax Receivable
Real Estate Tax Receivable
Other Receivables in Deferred Revenue
Total
OtherOther Receivables, Overdrawn Accounts, Deficits
Homeland Security UASI Securit
Total
Free Cash Voted from Town Meeting Not Recorded
Add:
Circuit Breaker, Other Closed Accounts, Adjustments:
Total
Deferred Revenue (Credit Balance+, Debit Balance-)
Free Cash Calculation for 2025
Reviewed By:
Certified On:
3,07 1,467.00
30,470.00
510,137.00
0,00
0.00
117,654.00
117,654.00
0.00
0.00
0.00
370,323.00
2,783,529.00
Susan Whouley
1/7/2026
Printed on: 1/7/2026 4:06:44 PM
Page 1 of 13
MASSACHUSETTS DEPARTMENT OF REVENUE Winthrop
DIVISION OF LOCAL SERVICES TOWN
Free Cash Certification
Retained Earnings Calculation - Ferry Culture Tourism Enterprise (660) - Fiscal Year 2026
Enterprise Fund Number A-2(18T)
Type of Enterprise Fund Marina
Name of Enterprise Fund/Statutory Reference Ferry Culture Tourism Enterprise (660)
Part | Cash 132,837.00
Current Liabilities, Designations of Fund Balance:
Accounts Payable 0.00
Payroll Payable 0.00
Warrants Payable 0.00
Encumbrances 0.00
Expenditures 0.00
Continuing Appropriations 0.00
Other Liabilities
0.00
Total 0.00
Cash less Current Liabilities 132,837.00
Part ll Retained Earnings, Undesignated 132,837.00
Accounts Receivable (net):
User Fees 0.00
Other Accounts Receivable
0.00
Total 0.00
Undesignated Retained Earnings Less Accounts Receivable 132,837.00
Fixed Assets
Debits:
0.00
Total 0.00
Credits:
0.00
Total 0.00
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MASSACHUSETTS DEPARTMENT OF REVENUE Winthrop
DIVISION OF LOCAL SERVICES TOWN
Free Cash Certification
Retained Earnings Calculation - Ferry Culture Tourism Enterprise (660) - Fiscal Year 2026
Fixed Assets Variance (Debits - Credits) 0.00
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MASSACHUSETTS DEPARTMENT OF REVENUE Winthrop
DIVISION OF LOCAL SERVICES TOWN
Free Cash Certification
Retained Earnings Calculation - Parks & Recreation (671) - Fiscal Year 2026
Enterprise Fund Number A-2(2ND)
Type of Enterprise Fund ParksRecreation
Name of Enterprise Fund/Statutory Reference Parks & Recreation (671)
Part | Cash 42,837.00
Current Liabilities, Designations of Fund Balance:
Accounts Payable 0.00
Payroll Payable 8,437.00
Warrants Payable 0.00
Encumbrances 0.00
Expenditures 0.00
Continuing Appropriations 0,00
Other Liabilities
PRPD USER FEES 30,875.00
Total 39,312.00
Cash less Current Liabilities 3,525.00
Part Il Retained Earnings, Undesignated 3,525.00
Accounts Receivable (net):
User Fees 0.00
Other Accounts Receivable
0.00
Total 0.00
Undesignated Retained Earnings Less Accounts Receivable 3,525.00
Fixed Assets
Debits:
0.00
Total 0.00
Credits:
0.00
Total 0.00
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MASSACHUSETTS DEPARTMENT OF REVENUE Winthrop
DIVISION OF LOCAL SERVICES TOWN
Free Cash Certification
Retained Earnings Calculation - Parks & Recreation (671) - Fiscal Year 2026
Fixed Assets Variance (Debits - Credits) 0.00
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MASSACHUSETTS DEPARTMENT OF REVENUE Winthrop
DIVISION OF LOCAL SERVICES TOWN
Free Cash Certification
Retained Earnings Calculation - Rink Enterprise (672) - Fiscal Year 2026
Enterprise Fund Number A-2(3RD)
Type of Enterprise Fund SkatingRink
Name of Enterprise Fund/Statutory Reference Rink Enterprise (672)
Parti Cash
Current Liabilities, Designations of Fund Balance:
176,154.00
167,217.00
167,217.00
167,217.00
Accounts Payable 0.00
Payroll Payable 4,237.00
Warrants Payable 0.00
Encumbrances 4,700.00
Expenditures 0.00
Continuing Appropriations 0.00
Other Liabilities
0.00
Total 8,937.00
Cash less Current Liabilities
Part Il Retained Earnings, Undesignated
Accounts Receivable (net):
User Fees 0.00
Other Accounts Receivable
0.00
Total 0.00
Undesignated Retained Earnings Less Accounts Receivable
Fixed Assets
Debits:
0.00
Total 0.00
Credits:
0.00
Total 0.00
Printed on: 1/7/2026 4:06:44 PM
Page 6 of 13
MASSACHUSETTS DEPARTMENT OF REVENUE Winthrop
DIVISION OF LOCAL SERVICES TOWN
Free Cash Certification
Retained Earnings Calculation - Rink Enterprise (672) - Fiscal Year 2026
Fixed Assets Variance (Debits - Credits) 0.00
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MASSACHUSETTS DEPARTMENT OF REVENUE Winthrop
DIVISION OF LOCAL SERVICES TOWN
Free Cash Certification
Retained Earnings Calculation - Waterways Fund (752) - Fiscal Year 2026
Enterprise Fund Number A-2(4TH)
Type of Enterprise Fund Harbor
Name of Enterprise Fund/Statutory Reference Waterways Fund (752)
Part | Cash
Current Liabilities, Designations of Fund Balance:
155,053.00
137,979.00
137,979.00
137,979.00
Accounts Payable 0.00
Payroll Payable 13,595.00
Warrants Payable 0.00
Encumbrances 3,479.00
Expenditures 0.00
Continuing Appropriations 0,00
Other Liabilities
0.00
Total 17,074.00
Cash less Current Liabilities
Part Il Retained Earnings, Undesignated
Accounts Receivable (net):
User Fees 0.00
Other Accounts Receivable
0.00
Total 0.00
Undesignated Retained Earnings Less Accounts Receivabie
Fixed Assets
Debits:
0.00
Total 0.00
Credits:
0.00
Total 0.00
Printed on: 1/7/2026 4:06:44 PM
Page 8 of 13
MASSACHUSETTS DEPARTMENT OF REVENUE Winthrop
DIVISION OF LOCAL SERVICES TOWN
Free Cash Certification
Retained Earnings Calculation - Waterways Fund (752) - Fiscal Year 2026
Fixed Assets Variance (Debits - Credits) 0.00
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MASSACHUSETTS DEPARTMENT OF REVENUE Winthrop
DIVISION OF LOCAL SERVICES TOWN
Free Cash Certification
Retained Earnings Calculation - Water & Sewer (901) - Fiscal Year 2026
Enterprise Fund Number A-2(5TH)
Type of Enterprise Fund WaterSewer
Name of Enterprise Fund/Statutory Reference Water & Sewer (901)
Part | Cash
Current Liabilities, Designations of Fund Balance:
Accounts Payable
Payroll Payable
Warrants Payable
Encumbrances
Expenditures
Continuing Appropriations
Other Liabilities
Total
Cash less Current Liabilities
Part Il Retained Earnings, Undesignated
Accounts Receivable (net):
User Fees
Other Accounts Receivable
Total
Undesignated Retained Earnings Less Accounts Receivable
Fixed Assets
Debits:
Total
Credits:
Total
0.00
44,568.00
0.00
775,920.00
0.00
0.00
0.00
820,488.00
0.00
0.00
0.00
2,301,340.00
1,480,852.00
0.00
0.00
1,480,852.00
1,480,852.00
0.00
0.00
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Page 10 of 13
MASSACHUSETTS DEPARTMENT OF REVENUE Winthrop
DIVISION OF LOCAL SERVICES TOWN
Free Cash Certification
Retained Earnings Calculation - Water & Sewer (901) - Fiscal Year 2026
Fixed Assets Variance (Debits - Credits) 0.00
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MASSACHUSETTS DEPARTMENT OF REVENUE Winthrop
DIVISION OF LOCAL SERVICES TOWN
Free Cash Certification
Retained Earnings Calculation - Solid Waste (670) - Fiscal Year 2026
Enterprise Fund Number A-2(6TH)
Type of Enterprise Fund TrashDisposal
Name of Enterprise Fund/Statutory Reference Solid Waste (670)
Part | Cash 131,182.00
Current Liabilities, Designations of Fund Balance:
Accounts Payable 0.00
Payroll Payable 3,140.00
Warrants Payable 0.00
Encumbrances 0.00
Expenditures 85,000.00
Continuing Appropriations 0.00
Other Liabilities
0.00
Total 88,140.00
Cash less Current Liabilities 43,042.00
Part Il Retained Earnings, Undesignated 43,042.00
Accounts Receivable (net):
User Fees 0.00
Other Accounts Receivable
0.00
Total 0.00
Undesignated Retained Earnings Less Accounts Receivable 43,042.00
Fixed Assets
Debits:
0.00
Total 0.00
Credits:
0.00
Total 0.00
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MASSACHUSETTS DEPARTMENT OF REVENUE Winthrop
DIVISION OF LOCAL SERVICES TOWN
Free Cash Certification
Retained Earnings Calculation - Solid Waste (670) - Fiscal Year 2026
Fixed Assets Variance (Debits - Credits) 0.00
Printed on: 1/7/2026 4:06:44 PM Page 13 of 13
Free Cash Policy as of July 1, 2025
Free Cash Certified 1/7/2026 2,783,529.00 $
10% set aside to be used the following year 278,352.90 $
Remaining 90% to be used for Retained Earnings 2,505,176.10 $
General Stabilization 30% 751,552.83 $
Capital Building Stabilization 37% 926,915.16 $
Building Stabilization 10% up to $300K Balance 250,517.61 $
Bldg Stabilization to reach $300,000 64,190.00 $
Surplus Building Stab. Transferred to Capital Bldg. 186,327.61 $
Education Stabilization 3% 75,155.28 $
Capital Building Stabilization 30% 926,915.16 $
Transfer from surplus Building Stabilization 186,327.61 $
Total transfer Capital Stabilization 1,113,242.77 $
Amount Remaining to appropriate if needed. 501,035.22 $
10% set aside 278,352.90 $
Remaining Free Cash 779,388.12 $