Chief Financial Officer Mr. Gephart presented the budget stabilization plan, a written successor to previously informal practices. The plan defines five stages — minor (up to 2% projected revenue shortfall), moderate (2–5%), significant (5–10%), major (10–15%), and crisis (15% and above) — and describes potential actions at each stage, ranging from departmental spending adjustments and hiring pauses to service reductions, separation incentives, and program eliminations in the most severe scenarios.
Vice Mayor Barrett moved to approve the plan without the accompanying resolution, saying the resolution as written would effectively grant broad authority to staff. Council members pressed for clearer public reporting when a stage is triggered and asked whether certain actions fall within the town manager's authority; staff explained triggers are based on total general fund revenue shortfalls and that frequent forecasts and year‑end estimates will be used to notify council. The motion to approve passed unanimously, recorded as 7‑0.