Stoneham residents voted down a proposal to spend $15,000 for new playground equipment during Saturday's annual town meeting.

Residents approved approximately $130,000 in town spending at this year's annual meeting, Treasurer Mary Fox said. That figure was down from the $156,000 approved last year, Fox said.

Voters also decided to form two planning committees – one to study whether to build a new town office and the other to study whether the town should change its fiscal year. Town Clerk Midge Silvio said Stoneham's fiscal year follows the calendar year; the state's fiscal year begins July 1.

Silvio said Rod Rovzar was elected to fill a one-year term on the Board of Selectmen, replacing John Collins, who has resigned. Selectwoman Kara Jones was re-elected to a three-year term.