|
Lexington Home Page
|
Help
|
About
|
Browse
Search
2013-11-04-STM-CEC-rpt
Breadcrumb Navigation:
TownOfLexington-Public
>
WEB PUBLISHED-PUBLIC DOCUMENTS
>
ELECTIONS AND TOWN MEETING ACTION & WARRANTS
>
Town Meeting Minutes and Reports
>
2010-2019
>
2013
>
Reports
>
2013-11-04-STM-CEC-rpt
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
12/14/2022 4:17:19 PM
Creation date
5/6/2015 11:59:42 AM
Metadata
Fields
Template:
Archives
Year
2013
Author or Source
Capital Expenditures Committee
Department
Town Clerk
Keywords or Subject
Town Meeting
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
12
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
CAPITAL EXPENDITURES COMMITTEE REPORT TO 2013 STM(Nov 4th) <br /> Warrant Article Analysis and Recommendations <br /> CPF= Community Preservation Fund; GF= General Fund; SF=Stabilization Fund <br /> Fund <br /> Authorization Funding Source Committee Recommends <br /> Requested <br /> Article 2:Amend FY2014 <br /> Operating, Enterprise Approval(5-0) if any <br /> Fund and Community State's Community actions are proposed to <br /> Preservation Budgets TBD Preservation Trust increase the State- <br /> Fund(CPTF) supplement amount in the <br /> Community Preservation <br /> Budget(See below) <br /> "To see if the Town will vote to make supplementary appropriations, to be used in conjunction with <br /> money appropriated under Articles 4, 5 and 8 of the warrant for the 2013 Annual Town Meeting [ATM], <br /> to be used during the current fiscal year, or make any other adjustments to the current fiscal year budgets <br /> and appropriations that may be necessary; to determine whether the money shall be provided by the tax <br /> levy, by transfer from available funds, from Community Preservation funds or by any combination of <br /> these methods; or act in any other manner in relation thereto." [Town Warrant] <br /> This Committee would only report if there were any actions to the Community Preservation Budget <br /> (CPB). <br /> It is expected that this year's State supplement to the Town's CPF will be materially more than the <br /> $961,957 that was estimated when our fiscal-year (FY) 2014 CPB was approved. There are three factors <br /> that warrant that expectation: <br /> (1) To the extent the State ended FY2013 with some surplus—which is the usual case—up to <br /> $25 million will be added to the State's CPTF from which the distributions, using a formula, are made to <br /> the municipalities that had adopted the Community Preservation Act (CPA). (For more details on the <br /> State Legislative action on this provision, see this Committee's Report to the 2013 ATM, released <br /> March 25, 2013, page 6.) To put that potential addition in perspective, last-year's distribution to those <br /> municipalities was made from the CPTF when its balance was just under $30 million; therefore, another <br /> $25 million would be about an 83% increase to the balance that was then available for distribution. (As <br /> there is a formula involved, the percentage change in Lexington's amount is not necessarily the same as <br /> the change in the CPTF balance.) <br /> (2)Using the latest report from the State's Department of Revenue—its September 2013 "Blue <br /> Book"—on the collections of Registeries of Deeds fees which funds the CPTF, this trust-fund-year's <br /> collections are, in the aggregate,running nearly$1.7 million(5.8%)above the prior year's. <br /> (3)In conjunction with the State Legislative action to provide for the up-to-$25 million addition, <br /> the annual distribution date was made one month later(now to be not later than 15 November)to permit a <br /> determination of what was any prior-FY State surplus and move any addition into the CPTF. Therefore, it <br /> is expected, based on informal information from the State's Department of Revenue, that this year's <br /> distribution will include the CPTF having received an additional (13th) month of collections of the fees. <br /> That may provide an additional$2 million(or more)toward that CPTF balance. <br /> As the actual distribution of this year's supplement is expected to be after this Town Meeting has <br /> dissolved, whether there will be an action under this Article to include the additional revenue to the <br /> Town's CPB—with 10% into each of the specific reserves (Open Space/Recreation, Historic Resources, <br /> & Community Housing) and the balance into the unbudgeted reserve—will be based on whether the <br /> distribution amount is known before then. If it isn't, that doesn't affect the Town's receipt of the <br /> supplement; it only means any increase over the supplement amount include in the CPB would not be <br /> available for appropriation until a Town Meeting in FY2015 (or later). <br /> 1 <br />
The URL can be used to link to this page
Your browser does not support the video tag.