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TOWN OF LEXINGTON | 7
<br />Town Manager continued from previous page
<br />Table 1: Activity of Capital Project Stabilization Fund
<br />FY2013FY2014FY2015FY2016 FY2017
<br />Amount into Capital Projects Stabilization Fund$1,600,000$3,983,240$5,910,726$9,447,832$6,991,205
<br />Subtotal$1,600,000$5,585,076$9,901,430$17,496,299$23,717,152
<br />Bridge/Bowman/Estabrook Debt Service Tax Relief$0$(1,600,000)$(950,000)$(215,000)$0
<br />Other School and Municipal Capital Projects$0$0$(919,000)$(620,567)($710,000)
<br />Interest Income$1,836$5,628$16,036$65,216$100,000 (est)
<br />Closing Balance$1,601,836$3,990,704$8,048,466$16,725,947$23,107,152 (est)
<br />Town Meeting also appropriated $1,512,318 (Article 18)
<br />which was appropriated to support the FY2017 capital and
<br />Fund to help fund the liability for retiree health care costs. -
<br />bution to the Capital Projects Stabilization Fund. Table 2
<br />$8,847,166.
<br />Free Cash.
<br />Table 2: Uses of Free Cash
<br />FY12FY13FY14FY15
<br />$12,600,931$10,303,125$12,808,202$11,475,187
<br />FY AppropriatedFY14FY15FY16FY17
<br />Capital Stabilization Fund$950,000$3,161,309$6,405,035$3,100,000
<br />In support of operating budget$4,201,709$4,100,000$4,236,920$3,918,300
<br />Cash Capital$4,333,503$2,000,000$2,119,000$2,500,000
<br />Set-Aside for Unanticipated Current FY Needs$200,000$200,000$200,000$200,000
<br />$525,000$119,000$3,247$312,318
<br />Reserve for Federal/State Budget Reductions$750,000$400,000
<br />Getting to Net Zero (2016 Town Meeting, Article 16)$40,000
<br />39 Marrett Road Improvements Phase I$322,816
<br />Estabrook School Street Improvements$1,500,000
<br />$39,582
<br />Total Appropriated Free Cash$12,499,794$10,303,125$12,764,202$10,070,618
<br />Unallocated$101,137
<br />FinanceCapital Plan (20162021)
<br />Table 3 includes a list of all major capital projects for the
<br />Lexingtons Aaa bond rating, citing the Towns wealthy 2016-2021 period which are likely candidates for debt
<br />tax base with continuing economic development activi-exclusion votes. For each project, the year which Town
<br />ties, healthy reserves, and a track record of voter support Meeting has taken action or is anticipated to vote is listed.
<br />for Proposition 2-1/2 operating overrides and debt exclu-
<br />sions. Lexington is one of approximately 30 Aaa commu-funding and construction funding.
<br />nities in Massachusetts. In 2016, the Town issued $10.4 Projects listed in Phase I are those which the voters have ap-
<br />proved as exempt from the limits of Proposition 2½. Phase
<br />II projects are those which are in the planning stage, and will
<br />to ten-year term. In June 2016, a bond anticipation note
<br />was issued for a total of $13,406,017 with a Net Interest
<br />capital projects design and master plan, the Middle School
<br />additions and remodeling, sewer improvements, and other
<br />capital projects.
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