1993-03-01-TE-Warrant-and-1993-03-29-ATM-Warrant

Browse Search

To the Residents of Lexington: The Warrant provides notification of the 1993 Annual Town Meeting and advises residents of the various issues being considered at the meeting. Only articles listed in the Warrant can be discussed. The Warrant includes the Town Manager's Proposed Budget for Fiscal Year 1994. The Town Manager submitted the proposed budget for FY 94 to the Selectmen for their review on December 29, 1992. Generally, the proposed budget includes funds for the operation and maintenance of municipal government including schools. The Board is deliberating on a number of budget issues and will present specific budget recommendations during Town Meeting. The Board has targeted a number of areas within the Town Manager's budget for policy deliberations. For the past five years, the Town Meeting has had difficulty balancing budgets with the revenue available. Unusually high balances of Free Cash were allocated to meet budget demands even though Free Cash is a savings account as opposed to a recurring source of revenue. In FY 89, $5.7 million; in FY 90, $3.4 million; in FY 91, $2.8 million; in FY 92, $2.5 million; in FY 93, $377,625 in Free Cash was spent and $377,625 is proposed to be spent in FY 94. There was less Free Cash available each year leading up to FY 93. Appropriating large sums from a revenue source that cannot be replenished has created problems for the Town and is the primary reason for the last two general referendum overrides of Proposition 2 1/2. FY90-94 REVENUE TREND $18-' $16,150,294 $16 $1Z089,140 VA 1.7E,7 o $10 _ 8 ,. $ $2 \ff-z $ FY90 FY91 FY92 FY93 FY94 I® State Aid 11111 Free Cash 11 Local Receipts I 3