2015-03-AC-ATM-rpt - Laserfiche WebLink

Browse Search

AC–2015ATM PPROPRIATIONOMMITTEE Introduction The Appropriation Committee is required to create a report with a review of the budget as adopted by the Board of Selectmen, including an assessment of the budget plan and a projection for future years' reve- nues and expenses. This report includes the Committee's advice and recommendations regarding all ap- propriations of Town funds that are anticipated in the Town Warrant, and other municipal matters that may come before Town Meeting. This report is published and distributed to the members of Town Meet- ing as a printed document and as an electronic document via the Town website. The Committee also makes presentations during Town Meeting, including recommendations on appropriations and other mat- ters for which the Committee’s formal position was pending at the time of publication. Committee Membership Jonina Schonfeld and Robert Cohen resigned from the Committee at the end of FY2015. We are grateful to them for their service. We welcome two new members, Beth Masterman, who joined us after serving on the Capital Expenditures Committee, and Andrei Radulescu-Banu. Reserve Fund The Committee has approved the following Reserve Fund transfers so far during FY2015: DateAmountDescription 9/4/2014$69,120Route 128Business CouncilAlewife Shuttle 9/23/2014$35,000Visitor’s Center transition to Town management 10/8/2014$11,500Alleviatepublic health nuisance at a private residence 2/12/2015$150,000High School modulars Phase 2 $265,620TotalTransfers As of publication, the balance in the FY2015 Reserve Fund is $634,380. The Reserve Fund transfers highlight two financial changes in September 2014. The Route 128 Business Council operates a regular shuttle (the REV bus) between the Alewife MBTA station and Hartwell Avenue. The shuttle operations have been funded by contributions from businesses in the Route 128 area, and also partly by a federal grant. That grant was not renewed, putting the opera- tion of the shuttle in jeopardy. Given the clear benefits of the shuttle, the Town agreed to temporarily cover the lost funding, while encouraging the Route 128 Business Council to recruit significantly more support from the businesses that benefit from it. The Lexington Chamber of Commerce handed over the operation of the Visitor’s Center to the Town in September 2014. The transition was unexpected, but the Town acted promptly to maintain the services, amenities, and retail operations that the Visitor’s Center provides for tourists and those passing through Lexington Center. A new Revolving Fund was created and then seeded with funds to bootstrap the opera- tions. These funds covered initial salary and inventory costs, with the goal of restoring the Visitor’s Cen- ter into a mostly self-sustaining business. The Visitor’s Center is now managed under the Director of Economic Development. Developments Since Adoption of the FY2015 Budget The Town endured a harsh winter with historic snowfall totals. Expenditures in FY2015 for snow and ice removal as of publication are $1,935,512. The FY2015 budget for snow and ice removal was $1,127,716, leaving a deficit of $807,796. The School Department has been notified of a total of $137,560 in 9C cuts impacting the METCO and Full-Day Kindergarten grants during FY2015. The FY2016 budget includes a set-aside of $200,000 for unanticipated fiscal needs during FY2015. 2