Milton's Select Board Finance Committee met Tuesday morning to close out the town's fiscal 2026 books and start early planning for fiscal 2028 — a session shadowed by two major capital questions the town will have to answer this fall: a $16.1 million fire station rebuild and a potential campus purchase whose price tag hasn't even been disclosed yet.

The 8:30 a.m. session, held separately from the full Select Board's evening meeting the same day, covered three main items: an update on the FY2026 year-end close-out, possible approval of budget transfers and reserve fund adjustments, and an early look at the FY2028 operating and capital budget. Minutes hadn't been posted as of Wednesday, so outcomes on those items remain pending.

Town Administrator Nicholas Milano confirmed the Fire Station Building Committee plans to request full funding for the Atherton Street rebuild at October's Special Town Meeting, with a debt exclusion question to follow at the November election. Town Meeting already approved $1 million in May for architectural and engineering work. The project would expand the station from two bays to five, add firefighter living quarters, and build a modern decontamination area — the last of Milton's three stations still awaiting major modernization, following completed renovations at Fire Headquarters two years ago and ongoing construction on the new East Milton station.

The Select Board also has to decide whether to purchase the Labouré College campus, a private nursing school closing by the end of August after filing WARN Act layoff notices for 65 employees. The School Committee voted in June to explore turning the site into a pre-kindergarten and kindergarten center — but the clock is ticking. School Building Committee Chairman Sean O'Rourke said the Select Board needs to decide by early August to get financing onto the November ballot. "I think it's a great asset for the town," O'Rourke said. "Does it work for a school? That's kind of what we're all trying to figure out."

The stakes are real: Milton's student population has grown by about 200 over the past decade to more than 4,350 students, making it one of the few Boston-area districts still seeing enrollment climb.

The Finance Committee's next meeting hadn't been scheduled as of Wednesday. Residents can check for approved minutes and updates at miltonma.gov/AgendaCenter.