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APPROPRIATION COMMITTEE REPORT TO THE MARCH 2012 ATM & STM Preface This Preface describes the structure and stylistic conventions used in this report. It is followed by an Introduction discussing changes in the Town's financial status since the most recent Annual Town Meeting in May 2011, and issues pertinent to the Town's general financial situation. The main body of this report contains article -by- article discussions and recommendations on those articles that, in our opinion, have substantial financial relevance. The discussion for each article presents the consensus view of the Committee, as well as any other considerations or cautions that we feel Town Meeting should be informed of In the case where one or more Committee members are strongly opposed to the majority position, we summarize the opposing perspective. Each Article discussion concludes with the most recent vote of the Committee prior to publication. This is summarized by the number of members in favor, followed by the number of members opposed, and lastly (when applicable) the number of members abstaining, e.g. "(6 -2 -1)" indicates six members in favor, two opposed, and one abstaining. For convenience, Committee votes are also summarized on the preceding page. This report does not replicate information readily available to Town Meeting members elsewhere. Key documents that inform our analysis and provide a more thorough picture of the Town finances are: • FY2013 Recommended Budget & Financing Plan, dated March 2, 2012, commonly known as the "Brown Book ", which documents the complete municipal budget of the Town of Lexington. The Brown Book also summarizes budget laws and bylaws (Appendix B) and includes a glossary of financial terms (Appendix D). • School Committee Fiscal Year 2013 Annual Town Meeting Budget Request (the "Gray Book "), which details the budget plans for the Lexington Public School System. • T14MA Warrant Information Report (March 2012), published by the Town Meeting Members Association. • Capital Expenditures Committee (CEC) Report to the 2012 Special Town Meeting. • Community Preservation Committee (CPC) Report to the 2012 Annual Town Meeting. Acknowledtements The content of this report, except where otherwise noted, was researched, written and edited by members of the Committee with support from town staff. Our Committee has the pleasure and the privilege of working with Town Manager, Carl Valente; Assistant Town Manager for Finance, Rob Addelson; our Budget Officer, Theo Kalivas; the Capital Expenditures Committee; the Community Preservation Committee; the School Committee; the Superintendent of Schools, Dr. Paul Ash; the Assistant Superintendent for Finance and Operations, Mary Ellen Dunn; and the Board of Selectmen. We thank the municipal and school staff, Town officials, boards and volunteers who have contributed time and expertise in support of our work. 4