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TO:Appropriation Committee & Select Board <br />SUBJECT:Request for End of Year Transfer between Departmental Line-Items <br />1.Amount requested: <br />2.To be transferred to: <br />Property & Liability Insurance <br />3.To be transferred from: <br />Town Manager - Professional Services <br />4.Present balance in Appropriation: <br />5. Explanation for purpose of transfer: <br />Action of Select Board: <br />Approved Disapproved <br />Action of Appropriation Committee: <br />Approved Disapproved <br />Town of Lexington <br />Request is hereby made for the following transfer between line-items as appropriated via a vote <br />of Annual Town Meeting, in accordance with M.G.L. Chapter 44, Section 33B, paragraph (b), <br />as amended by the Municipal Modernization Act. <br />$12,800.00 <br />11915002-520000 <br />Account Name Account Number <br />11123002-53000 <br />Account Name Account Number <br />$23,289.00 <br />Date <br />Transfer voted in the sum of: <br />Chair, Appropriation Committee <br />Department Head <br />Date <br />Transfer voted in the sum of: $12,800.00 <br />Chair, Select Board <br />The Town has acquired a Builder's Risk insurance policy for Town buildings that <br />are under construction including the Police Station and Westview Cemetery <br />building. This expense was not included in the original FY2023 budget and was not <br />fully covered by the current year budget adjustment approved at the 2023 Annual <br />Town Meeting. An additional $12,800 is needed to cover the policy premium. <br />$12,800.00 <br />Kelly Axtell <br />EOY <br />ALLBudgetTransfers_YE_FY2023_7.7.23 FY2023