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AC–2015ATM PPROPRIATIONOMMITTEE The Committee has previously noted that judicious use of some of the fund’s accumulated retained earn- ings could help defray the impact of these growing capital costs and help to maintain long-term rate sta- bility. A contribution of $300,000 from retained earnings was made in FY2012; a contribution of $200,000 was made in FY2014; and a contribution of $900,000 was made in FY2015. An even more sub- stantial contribution of $1,350,000 from the wastewater fund’s retained earnings is proposed this year, made possible by recent growth of the retained earnings to a level well above the approximately $1,000,000 recommended to be held in reserve. Even if this level of cash contribution from retained earn- ings cannot be sustained in future years, it has moderated the growth in debt service costs that would oth- erwise have to be included in rate requests going forward, and is a productive use of excess reserves. Note that an additional appropriation of $40,500 in wastewater fund retained earnings will be requested under Article 11(b) (Municipal Capital) to cover 45% of the cost to replace a Ford F350 pick-up truck that has reached its end of life. For a more complete discussion of the status and use of water and sewer enter- prise fund retained earnings, see the discussion of the enterprise fund operating budgets in Article 5. The Committee recommends approval of this request (8-0). FundsFunding Committee Article 16: Appropriate for School RequestedSourceRecommendation Capital Projects and Equipment Approve (8-0) $1,986,000See below Financial details of the request are summarized below. For a discussion of the items in this request, please see the Report of the Capital Expenditures Committee. FundsCommittee Project DescriptionFunding Source RequestedRecommendation $117,500GF (debt) (a)System Wide School Furniture, Equipment $200,000Free CashApprove (9-0) and Systems $317,500 (b)School Technology Capital Request$1,378,000GF (Debt)Approve (9-0) (c)Additional Time Clock System Funds$208,000GF (Debt)Approve (9-0) (d)Food Service LHS Dishwasher & Installation$82,500Food Service RFApprove (9-0) The Committee recommends approval of this request (8-0). FundsFunding Committee Article 17: Technical Correction to RequestedSourceRecommendation the Borrowing Authorization Under Article 13b of the 2014 Annual Approve (9-0) $10,000GF Town Meeting This request corrects a technical error in the borrowing authorization approved under Article 13(b) of the Warrant for the 2014 Annual Town Meeting. The request, as approved, was $10,000 lower than intended. The Committee recommends approval of this request (9-0). 31