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UPATES &ERRATA TO CAPITAL EXPENDITURES COMMITTEE REPORT TO 2014 ATM&STM
<br /> Article 4 (Appropriate FY2015 Operating Budget) to provide similar mitigation from the
<br /> non-exempt-debt service for the 2-year High School Modulars Project that was authorized at the
<br /> November 4, 2013 STM under its Article 4.).
<br /> (2) The second action is to deposit into that fund $6,160,726 that are not designated for use
<br /> toward FY2015 expenses.
<br /> (3) The projected balance after those actions (including the additional $919,000 withdrawal
<br /> under Article 4) would be $8,280,143—which continues to accrue interest earned. That balance would
<br /> remain in this Fund and be available later in FY2014 and thereafter to be applied, with a 2/3rd vote by a
<br /> future Town Meeting, toward any of the purposes in the full title of the Fund. Although not yet obligated
<br /> by any action of a Town Meeting, there are three more debt-mitigation-related draws contemplated from
<br /> this Fund. Those are simply projections at this point, but include using in FY2016 about $350,000 for an
<br /> additional mitigation of the exempt-debt service related to the same elementary-schools projects and
<br /> about $1,078,000 additional mitigation of the non-exempt-debt service related to the Modulars Project;
<br /> and in FY2017, about $805,500 of additional mitigation related to the Modulars Project.
<br /> b. The Traffic Mitigation SF—whose balance as of February 28, 2014, is $29,067.24. The deposit
<br /> into this Fund is available as a result of a $40,000 payment received from Cubist Pharmaceuticals in
<br /> connection with approval of a property-development project in Town.
<br /> [End replacement text]
<br /> Page 61 &62, Article 22
<br /> a. Header box: In Funds Requested, change "$741,194.46" to "$741,193", and in Funding
<br /> Source, change "(Debt)"to "(Cash)" and"$246,194.46"to "$246,193".
<br /> b. At the end,replace the table in its entirety with:
<br /> Fund Source Original Appropriation Descriptions Amount
<br /> Premium on Bonds Sold on 2011 STM (Nov 14)Article 2 Bridge/Bowman Reconstruction $98,378.00
<br /> February 5,2014 2012 STM (Apr 2)Article 3 Estabrook School Construction $147,815.00
<br /> Subtotal $246,193.00
<br /> GF(Cash) 2013 STM (Nov 4)Article 4 High School Modular Buildings $495,000.00
<br /> Total $741,193.00
<br /> Appendix Page C-1, Article 8(a),
<br /> a. After "39 Marrett Road Community Center Sidewalk", add "(To be Indefinitely
<br /> Postponed)".
<br /> b. In the Request column, change "$100,000"to "0".
<br /> c. In the Funding Source column, delete "CPF (Cash)".
<br /> Appendix Page C-2:
<br /> a. Article 14(d): At the beginning of the Description, add"Extraordinary".
<br /> b. Article 14(i): At the end of the Description, delete "($275,000)".
<br /> c. Before the entry for Article 19, insert:
<br /> 17 Establish and Appropriate To and From Specified See Page 60
<br /> Stabilization Funds
<br /> d. In the bottom Totals, change the title to "Totals (excluding Article 17)", and reduce the
<br /> Request amount by $100,000.
<br /> e. In the footnote, change "5246,194.46±"to "$246,193".
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