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AC–2015ATM PPROPRIATIONOMMITTEE FundsFunding Committee Article 26: Establish and Appropriate RequestedSourceRecommendation To and From Specified Stabilization $6,405,035Free Cash Funds $3,042,797Tax Levy Approve (8-0) $18,175TM revenue $20,339TDM revenue $9,486,346 The State statute authorizing towns to create and maintain a stabilization fund (G.L. c. 40, § 5B) was amended in 2003 to permit the creation of multiple, separate stabilization funds for specified purposes. Creating these funds, altering their specified purpose and appropriating into or out of them requires a two- thirds vote of Town Meeting. Lexington first specified stabilization funds were established at the 2007 Annual Town Meeting. A history and description of these funds can be found in Appendix E. Each “specified stabilization fund” holds monies for one or more purposes that were specified when the fund was created. This Article is now routinely included on the Warrant to give Town Meeting the oppor- tunity to create new specified stabilization funds, and to appropriate monies into, or out of, such funds. Appropriations into specified stabilization funds are not normal expenditures, but rather transfers of funds into accounts for specified future uses. Once transferred into a fund, these monies can only be appropriat- ed out of the fund in accordance with the purposes specified at the creation of the fund. Appropriations into our out of a stabilization fund require approval by a two-thirds majority of Town Meeting. Status of Funds and Appropriation Requests The current balance of each fund, the amount currently available for appropriation into each fund, and the amounts proposed to be withdrawn from each fund, are as follows: Current Amount AmountWarrant Specified Stabilization Fund BalanceDepositedWithdrawnArticle Avalon Bay School Enrollment Mitigation S.F.$45$0$0– Center Improvement District S.F.$86,429$0$0– SchoolBus Transportation S.F.$18$0$0– Section135Zoning S.F.$0$0$0– Special Education S.F.$1,072,499$0$0– Traffic Mitigation S.F.$69,129$18,175$0– Transportation Demand Management / Public $301,772$20,339$137,000Art. 4 Transportation S.F. Transportation Management Overlay District S.F.$10,764$0$0– $620,567Art. 4 Capital Projects/Debt Service Reserve/Building $8,039,928$9,447,832$215,000Art. 26 Renewal S.F. $835,567 All deposits into specified stabilization funds are covered under this article. Withdrawals from these funds are covered under the indicated article. Under Article 4, the Transportation Demand Management/Public Transportation Stabilization Fundis being used to fund both LexPress ($91,600) and the REV Bus($45,400). The REV bus is a shuttle between Hartwell Ave. and the Alewife MBTA station. The balance of the cost of the shuttle is raised from fares charged to riders and amounts contributed by Hartwell Ave. businesses. As discussed in the Introduction to this report, in the fall of 2014, this Committee approved a request for a Reserve Fund transfer of $69,120 to cover the anticipated FY2015 shortfall resulting from the loss of a 35