2022-03-28-CEC-ATM-STM-rpt - Laserfiche WebLink

Browse Search

CAPITAL EXPENDITURES COMMITTEE REPORT TO 2022 ATM& STMs 2022-1 & -2 money will be requested in this Fall's Special Town Meeting. We hope to see a more credible plan ready for that Special Town Meeting. Finally, bear in mind that this Committee is appointed by the Town Moderator and chartered to advise Town Meeting, a mission we take seriously.While we work collegially with Town Departments and other Boards and Committees, our recommendations represent what we believe to be in the best interests of you, Town Meeting and,therefore,Lexington citizens. We hope you will find this report useful. The Mission of the Capital Expenditures Committee From the Code of the Town of Lexington (§29-13): D. Each year the Capital Expenditures Committee shall request and receive from the Town Manager information on all capital expenditures requested by Town boards and departments that may be required within the ensuing five-year period. The Committee shall consider the relative need, timing and cost of these projects, the adequacy thereof and the effect these expenditures might have on the financial position of the Town. E. The Committee shall prior to each Town Meeting for the transaction of business prepare, publish and distribute by making copies available at the office of the Town Clerk and at Cary Memorial Library, and by mailing or otherwise distributing to each Town meeting member, a report of its findings, setting forth a list of all such capital expenditures together with the Committee's recommendations as to the projects that should be undertaken within the five-year period, the approximate schedule for the funding of each recommended project to the extent practical, and its recommendations on policies with either a direct or indirect effect on capital matters. This publication may be combined with and distributed at the same time as the Appropriation Committee report. From the Code of the Town of Lexington(§29-14): The term capital expenditures shall mean any and all expense of a nonrecurring nature not construed as an ordinary operating expense,the benefit of which will accrue to the Town over an extended period of time. Definition of Capital Projects (Select Board's Recommended Budget&Financing Plan,Page XI-1): A capital project is defined as a major,non-recurring expenditure that generally meets the following criteria: • Massachusetts General Law permits the Town to issue bonds to finance the expenditure; • The expenditure is $25,000 or more; • The expenditure will have a useful life of 10 years or more for buildings or building components and 5 years for vehicles and equipment; and • Planning, engineering, or design services may be considered capital when such services are integral to a construction, renewal or replacement project that meets the criteria for a capital expenditure. From the Code of the Town of Lexington(§29-26): The Capital Expenditures Committee shall state whether it endorses each recommendation of the Community Preservation Committee. How to Read This Report The balance of our report is divided into four sections: • An overview of capital projects in Lexington, • Presentation of a five-year capital plan, • For each department and program, an overview of its purpose, spending history, any general capital plan, references to any funding request in the FY2023 budget, and • This year's capital-related Warrant Articles. 2