2015-03-23-CEC-ATM-STM-rpt (Updates 04-15-15)

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UPDATES TO CAPITAL EXPENDITURES COMMITTEE REPORT TO 2015 ATM&STMs(Mar 23`d) This document provides updates and four additional corrections to the Committee's report. (Two corrections were in the earlier Errata publication.) The updates reflect the changes that have come to the Committee's attention as of the publication of this document or revised Committee positions and explanations that were either verbally made to Town Meeting during its deliberations or that are expected still to be presented to the 2015 ATM. (If an update is material to the Committee's position as verbally presented to the Meeting, the change from the original report was or will be identified at that time of that presentation.) Page 46: a. In the 1st full paragraph ("This Committee...."), 1st sentence, change"buildings"to "house". b. Add as a new paragraph following that 1st full paragraph: While two of the funding sources ($264,428 for Community Housing and$253,027 for Open Space; totalling $517,455) are CPA-category specific, only the use of $100,545 of the Unbudgeted Reserve must be analyzed regarding assignment to CPA categories. (That assignment has no bearing on the financial sourcing, but is just for tracking how the Town is using the funding to meet the objectives of the CPA.) That use includes $5,545 related directly to Community Housing (including the $3,000 for protection of the house) and $95,000 for ancillary costs (legal and other miscellanous purposes related to the purchase and use of the property). This Committee's approach is to assign the ancillary funding in the same proportion as the category-specific funding. In this case, that category-specific funding (including the $5,545) is 51.6% for Community Housing and 48.4% for Open Space. That results in the$95,000 for ancillary costs having$49,020 assigned to Community Housing and $45,980 to Open Space. The total appropriation then has $318,993 allocated to Community Housing and$299,007 to Open Space. Page 47: In the Article 11 header table, Funding Source: a. Change"$10,076,825 GF (Debt)"to "$10,005,743 GF (Debt)". b. Append at the end"+$71,082 Unexpended Cash Balances". Pages 48 &49: In sub-Article(c): a. In the header table, change the Funding Source to "$43,343 GF (Debt) + $225,575 GF (Free Cash)+ $71,082 Unexpended Cash Balances". b. Add, at the end(on Page 49), as a new paragraph: The following table identifies the Unexpended Cash Balances from prior appropriations that are being reappropriated as part of the funding of this capital effort: Unexpended Cash Balances to be Re-Appropriated Original Appropriation Original Purpose Amount 1996 ATM,Article 14 Library Construction $4,513 2009 ATM,Article 18A School Technology $721 2011 ATM,Article 12A School Technology $67 2012 ATM,Article 15B Classroom Furniture $78 2012 ATM,Article 11B Park Improvements—Hard Court Resurfacing $6,332 2013 ATM,Article 10A Fire Pumper Replacement $47,687 2013 ATM,Article 13B Classroom Furniture $6,706 2013 ATM,Article 14M Public Facilities Vehicle Replacement $4,978 Total $71,082 Pages 54 &55: In sub-Article(q): a. In the header table, Change the Committee Recommends to "Approval 3-2". 1