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APPROPRIATION COMMITTEE REPORT TO NOVEMBER 2011 STM Article 6: Appropriate to Funds Funding Committee Requested Source Recommendation Stabilization Fund none n/a IP This Article is routinely included on the Warrant to give Town Meeting the opportunity to appropriate funds to the Stabilization Fund, which is the Town's "rainy day" fund. This is a large reserve fund that helps to ensure the stability and reliability of the Town finances. Transferring money into or out of the Stabilization Fund requires a two-thirds majority vote of Town Meeting. The current balance of the Stabilization Fund is approximately$8,420,000. There is no proposal to appropriate to the Stabilization Fund at this Special Town Meeting, therefore we anticipate that this Article will be indefinitely postponed. Article 7: Appropriate for Funds Funding Committee Requested Source Recommendation Authorized Capital $65,000 GF Improvements $35,000 CPA Approve(9-0) $100,000 This Article is routinely included to give Town Meeting the opportunity to make supplemental appropria- tions for capital projects that have been authorized previously by Town Meeting. Clarke Middle School sidewalk. The 2011 Annual Town Meeting appropriated$125,000 of General Fund debt under Article 13(e) to fund a project that would improve the traffic pattern for school buses in the Clarke Middle School parking lot. The project had two components: (a) corrections to the vehicle travel lanes and parking lot, and(b)rerout- ing of 700 feet of sidewalk to enhance pedestrian safety. Bids for the full project came in higher than ex- pected, so only the first part of the project proceeded. This left $20,000 from the initial appropriation, which was insufficient for the sidewalk component. This Article requests a supplemental appropriation of $65,000 for a total of$85,000 to fund the sidewalk component of the project. This amount covers $75,000 in costs plus a$10,000 contingency. Cary Library archive storage room. The 2010 Annual Town Meeting appropriated$100,000 under Article 8(h) to fund a Cary Library Preser- vation Project using CPA funds. This project would convert an existing storage room into a fireproof, climate-controlled vault for the storage of Town and Library archives. Bids for the project came in at $130,000 — $163,000. The Public Facilities Department is exploring ways to reduce the total cost, and they are also seeking an additional $4,151 for archival shelving that was not in the original construction specifications. The Community Preservation Committee has recommended an additional$35,000 of CPA funds to complete the project. Town Meeting approval is required to appropriate these funds and allow the project to move forward. The Committee recommends approval of this request(9-0). Page 16