Winthrop Council Approves $2.5 Million Free Cash Distribution to Four Stabilization Funds

WINTHROP -- February 17, 2026, Winthrop Town Council unanimously approved a $2.5 million certified free cash distribution to four municipal stabilization funds at its February 17 meeting. Council President Letary, delivering his fifth annual State of the Town address, reported the town's combined stabilization balances now total roughly $10.5 million, approximately 13 percent of the operating budget, and that its bond rating has climbed from AA to AA-plus. Councilor Tassaneri, presenting the Finance Subcommittee's favorable recommendation, detailed allocations of $751,553 to the General Stabilization Fund, $1,113,242 to Capital Stabilization, $64,190 to Building Stabilization to reach its $300,000 cap, and $75,155 to the Education Stabilization Fund, leaving $779,388 available for later appropriation, likely including snow and ice costs that Town Manager Marino estimated at close to $300,000 from a single recent storm. The council also approved two separate $20,000 enterprise fund draws, one for Ferry insurance costs and one for an unplanned rink compressor replacement, both 8-0.