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2023-03-20-CEC-ATM-rpt
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2023-03-20-CEC-ATM-rpt
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3/20/2023 11:02:26 AM
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2023
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Town Clerk
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Capital Expenditures Committee Town Meeting Report for March 20, 2023
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CAPITAL EXPENDITURES COMMITTEE REPORT TO 2023 ATM <br /> attention to the large capital agenda that we face over the next decade.Not so long ago it was just the Police <br /> Station rebuild (in progress) and the Lexington High School rebuild (currently estimated at$400 million) <br /> on our radar screens. New to the 10-year agenda are the East Lexington Fire Station, the Cary Memorial <br /> Library,the Stone Building, 173 Bedford Street,the Town Office Building, and recreation fields. Missing <br /> from these projections,but certainly worthy of mindshare are the Bridge and Bowman Elementary schools <br /> which will also need significant updates in that same 10-year timeframe, if for no other reason than the <br /> community will demand physical plant and program parity with the other elementary schools in the district. <br /> So in less than a year,we have gone from a single, very-large, debt exclusion in (approximately) FY2027 <br /> for the LHS rebuild,to an even larger potential debt exclusion for all of the big-ticket projects that we face <br /> in approximately the same time frame. Maybe it is wise to be thinking of bundling all of those into one <br /> referendum. Maybe it's not. That's more of a policy decision for the Select Board to spearhead.But getting <br /> back to our comments above about creating a structurally sound budget, we may need to face the possible <br /> need for an operational override before that big FY2027 debt-exclusion, that will put the latter at risk <br /> because of the increased pressure it places on the taxpayer. <br /> There are some silver linings this year. In our report last year, regarding another source of uncertainty in <br /> capital planning,we said "The results of this [20-year capital assets study] still have not been incorporated <br /> into the Town's long-term capital planning."We are happy to report that the DPF staff has done a fine job <br /> of incorporating the results of that study into their planning process. <br /> As a closing remark, we would be remiss if we didn't remind you that this Committee is appointed by the <br /> Town Moderator and chartered to advise Town Meeting, a mission we take seriously. While we work <br /> collegially with Town Departments and other Boards and Committees, our recommendations represent <br /> what we believe to be in the best interests of you, Town Meeting, and, therefore, Lexington citizens. We <br /> hope you will find this report useful. <br /> The Mission of the Capital Expenditures Committee <br /> From the Code of the Town of Lexington(§29-13): <br /> D. Each year the Capital Expenditures Committee shall request and receive from the Town <br /> Manager information on all capital expenditures requested by Town boards and <br /> departments that may be required within the ensuing five-year period.The Committee shall <br /> consider the relative need,timing and cost of these projects,the adequacy thereof and the <br /> effect these expenditures might have on the financial position of the Town. <br /> E. The Committee shall prior to each Town Meeting for the transaction of business prepare, <br /> publish and distribute by making copies available at the office of the Town Clerk and at <br /> Cary Memorial Library, and by mailing or otherwise distributing to each Town meeting <br /> member,a report of its findings, setting forth a list of all such capital expenditures together <br /> with the Committee's recommendations as to the projects that should be undertaken within <br /> the five-year period, the approximate schedule for the funding of each recommended <br /> project to the extent practical, and its recommendations on policies with either a direct or <br /> indirect effect on capital matters. This publication may be combined with and distributed <br /> at the same time as the Appropriation Committee report. <br /> From the Code of the Town of Lexington(§29-14): <br /> The term capital expenditures shall mean any and all expense of a nonrecurring nature not <br /> construed as an ordinary operating expense,the benefit of which will accrue to the Town over an <br /> extended period of time. <br /> Definition of Capital Projects (Select Board's Recommended Budget&Financing Plan,Page XI-1): <br /> A capital project is defined as a major,non-recurring expenditure that generally meets the <br /> following criteria: <br /> • Massachusetts General Law permits the Town to issue bonds to finance the expenditure; <br /> • The expenditure is $25,000 or more; <br /> 2 <br />
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