Cambridge Finance Committee Unanimously Forwards Nine Departmental Budgets to Full Council

CAMBRIDGE -- May 7, 2024, Cambridge Finance Committee forwards nine departmental budgets unanimously at all-day FY25 hearing. City Manager Yi-An Huang opened the May 7 session by warning that a historically high levy increase of 9.28 percent, driven by a new teacher contract, universal pre-K rollout, and capital debt service, will require spending moderation in fiscal years 2026 and 2027. The $30.9 million free cash draw in the submitted budget breaks into $18 million for operating revenue and $12.9 million for capital projects, a shift Finance Co-Chair Councillor Paul Pickett questioned as a significant change from prior practice. Assessing Director Samuel Willett flagged the $750 million Volpe site transfer to MIT as a major new-growth generator but cautioned that rising construction costs and tighter bank lending will suppress future commercial development. Mayor E. Denise Simmons pressed Housing Liaison Director Maura Pensak on a years-old gap in inclusionary zoning policy review, saying "people have gone off the list because of it." The Information Technology budget of $13,249,625 drew pointed questions on municipal broadband, with Co-Chair Councillor Patty Nolan calling the lack of a scheduled update "frustrating" after roughly six or seven years of planning.