1996-12-19-AC-MIN.pdf - Laserfiche WebLink

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APPROPRIATION COMMITTEE MEETING MINUTES THURSDAY, DECEMBER 19, 1996 COMPTROLLER'S OFFICE, 7:30 PM PRESENT: R. Borghesani, S. Coit, R. Colwell, P. Lapointe, M. Miley, I. Mroczkowski, R. Pawliczek ABSENT: R. Leone, L. Peck, J. Ryan Discussion of Draft Warrant Article P. Lapointe noted that John Ryan and Norm Cohen independently suggested linking the capital financing proposals to a stabilization fund. On financial matters a town meeting resolution can not bind future town meetings. However, state statute provides for a stabilization fund and permits a balance to be carried from year to year. Paul stated that the town manager's proposed budget might include a$150,000 appropriation to initiate a stabilization fund. The Committee identified and discussed a range of issues related to the draft article, including: — Depreciation schedules and estimated annual depreciation charges — The need for a prospective model to suggest future annual capital financing needs — Phasing in of a long-term approach: Use a percentage of depreciation? Apply depreciation to new purchases only? — Viability of stabilization fund approach: For what purposes would town meeting appropriate stabilization funds? Would voters approve an override with a balance in a stabilization fund? — Need for educating, explaining, and building support of selectmen and other players R. Colwell moved, and M. Miley seconded adoption of the draft article as written. R. Borghesani suggested an alternative approach: simply reserve a place in the warrant now, propose 5% or some other reasoned percentage as a capital spending requirement, and draft the specific warrant article in the next several weeks. R. Colwell withdrew his original motion with the consent of M. Miley. The chair moved, and R. Colwell seconded, that the Appropriation Committee reserve an article in the warrant proposing guidelines for funding capital expenditures. Motion carried unanimously. Paul agreed to submit a memo by December 27 requesting that an article be reserved. To gather information on the municipal and school asset base, committee members agreed to talk to the town manager before contacting the DPW (Isabel) and the Fire Department (Mary). Roger agreed to gather information on school assets. School Committee Capital Budget Warrant Articles P. Lapointe distributed a December 18 memo from Jeff Young to Rick White reporting the School Committee's vote approving an FY98 capital budget request of$1,382,290, consisting of two items: — Technology hardware and equipment, $1,029,290 — Repairs and renovations to the school administration building, $352,000 The memo also requested that a second warrant article, the amount to be determined at a later date, be reserved to appropriate funds for the design and reconstruction of school buildings.