Woburn Finance Panel Reviews Debt Book, Wetlands Code Rewrite Advances

WOBURN -- April 27, 2026, Woburn's Finance Committee examined the city's full debt portfolio and investment reserves at its April 27 meeting, while the Committee on Ordinance, Charter, and Rules advanced a rewrite of the municipal wetlands code. City Auditor Charlie presented the debt book to Finance Committee Chair Councilor Viola and members Councilor Demers, Councilor Ferulo, and Councilor Marissa Bruin, detailing outstanding bonded obligations for projects including elementary schools, fire stations, and water and sewer infrastructure. The auditor disclosed the city holds approximately $38 million in free cash, earning only bank-level interest rates, alongside roughly $20 million spread across three stabilization accounts earning 6 to 7 percent annual returns. He confirmed any shift of free cash into stabilization requires city council approval and said he would provide members with detailed return-on-investment figures. Separately, Conservation Director Teresa Murphy briefed the Ordinance committee on a proposed remove-and-replace of Title VII of the municipal code, which would reclassify routine wetlands applicability requests from public hearings to public meetings, reducing cost and paperwork for small-project applicants; the committee voted unanimously to recommend the measure ought to pass.