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sidewalk infrastructure,and additional support to our Human Resources Department to help service the
<br /> needs of all municipal and school employees.
<br /> Additionally,we recognized that while we have made great strides in recent years,there is stili much
<br /> work to be done to maintain and improve our Town's infrastructure. This is a priority for the Select
<br /> Board, and our FY2024 budget reflects this commitment.We have allocated funds for a number of road
<br /> and sidewalk projects.We also allocated funds to support our excellent school system and special
<br /> education needs,and we are continuing our efforts to promote sustainability and environmental
<br /> stewardship,including expanding our recycling program and investing in renewable energy projects.
<br /> In addition to these initiatives,we are also committed to maintaining our AAA bond rating and avoiding
<br /> operating overrides. We recognize the importance of continuing our building reserves in the Capital
<br /> Stabilization Fund to ensure that larger capital projects and future debt service do not place an
<br /> unmanageable burden on taxpayers, and we are working to identify opportunities for cost savings and
<br /> revenue growth to ensure the long-term financial health of our Town.
<br /> Budgeting can be a complex and difficult process,and we are grateful for the support and engagement
<br /> of our colleagues on the School Committee, the Appropriation Committee and the Capital Expenditures
<br /> Committee as well as residents as we work through these challenges. We are grateful to the municipal
<br /> and school staff who work diligently to help bring this budget to Town Meeting.We are committed to
<br /> ongoing evaluation and refinement of our budgeting process,with a focus on identifying areas for cost
<br /> savings and revenue growth. We believe that with collaboration and careful planning,we can continue
<br /> to meet the needs of our community while also maintaining our fiscal responsibility.
<br /> The Select Board recognizes the challenges we face in developing the FY2024 budget and beyond,but we
<br /> are committed to addressing these challenges. We appreciate the support of our residents, and we look
<br /> forward to continuing to serve Lexington in the year ahead.
<br /> American Rescue Plan Act (ARPA) Funding
<br /> In 2021,the Town of Lexington received$9,903,381 in funding through the American Rescue Plan Act
<br /> (ARPA) to help the community recover from the COVID-19 pandemic. The federal government has
<br /> specified several objectives for the use of ARPA funds, such as supporting COVID-19 response efforts,
<br /> economic stabilization, and investing in infrastructure,including water,sewer, and broadband. Certain
<br /> uses of funds are not eligible, such as replenishing reserves and reducing tax revenues. .
<br /> To ensure that the ARPA funds are used to address the immediate needs of residents and businesses in
<br /> areas such as housing,food insecurity,public health and safety, and economic stimulus,the Select Board
<br /> has identified priorities for ARPA spending and a participatory budgeting process.
<br /> As of December 5,2022,the Select Board has approved for use$5.4 million of Lexington's $9.9 million in
<br /> ARPA funds. Additionally,$1.1 million of the Town's ARPA funds are set aside for Participatory
<br /> Budgeting. The current unallocated balance of the Town's ARPA funds is $3.3 million,which is available
<br /> to be spent until the end of 2024.
<br /> A top priority of the Select Board was spending in the area of Economic Stimulus &Resiliency. To that
<br /> end,the Select Board has approved a total of$2.4 million in funding for various cultural organizations,
<br /> events, park improvements, small business assistance,pop-up business incubators,website rebuilds,
<br /> non-profit business assistance,and landscape improvements to the East Lexington bike path.
<br /> In addition,the Select Board has allocated$1.1 million for public safety and health,including funding for
<br /> equipment like respirator protection,electronic sign boards,AED devices,and an ATV ambulance, as
<br /> well as additional overtime and mental health services to aid in COVID-related issues. To address food
<br /> insecurity, $50,000 has also been allocated.
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