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2024 ATM APPROPRIATION COXMTTEE 13 MARCH 2024 Introduction The Appropriation Committee is required to create a report with a review of the budget as adopted by the Select Board, including an assessment of the budget plan and a projection for future years' revenues and expenses. This report includes the Committee's analysis and recommendations regarding all anticipated appropriations of funds, and other financial matters that may come before Town Meeting. This report is distributed as an electronic document via the Town website. The Committee also makes presentations during Town Meeting, including recommendations on appropriations and other matters for which the Committee's formal position was pending at the time of publication. The Committee's goal is to publish its report at least one week prior to the start of the Annual Town Meeting (ATM), with the understanding that financial articles could be taken up on the first night of the ATM. In addition to the timing of this report,the Town's practice has been to publish the Brown Book at least four weeks in advance of town meeting taking up financial articles. The Brown Book was published on Tuesday, February 20, and therefore financial articles cannot be considered before Wednesday, March 20. Committee Membership and Meeting Practices There have been no changes in membership. Current members are listed on the cover of this report. The Committee currently has eight members with one unfilled seat. On March 20, 2023, Governor Healey signed legislation to allow remote and hybrid meeting options for public bodies through March 31, 2025. The Committee has continued to meet remotely using the Zoom application. Reserve Fund The appropriation to the Reserve Fund in FY2024 was $750,000. The Committee has not yet received any requests for Reserve Fund transfers during FY2024. Any unused balance will flow to free cash at the end of the fiscal year. Note that the requested appropriation for the Reserve Fund in FY2025 has been increased to $850,000. Developments Since Adoption of the FY2024 Budget On July 10, 2023, the Committee reviewed final budget adjustments for FY2023 as recommended by Town staff. The end-of-year(EOY)budget adjustments were to: • Transfer$12,800 from "Town Manager-Professional Services"to "Property&Liability Insurance" • Transfer $13,000 from "Select Board - Contractual Services" to "PEG Access - LexMedia Contractual Services" • Transfer$187,000 from the Salary Adjustment Account to "Police -Regular Wages" • Authorize an increase to the spending limit of the Health Programs Revolving Fund by $10,000 from $45,000 to $55,000. The Committee approved the first two EOY transfers and the increase for the Health Programs Revolving Fund. The transfer from the Salary Adjustment Account was approved by the Select Board and did not require the Committee's approval. The November 2023-1 Special Town Meeting included the following actions: • Article 2 appropriated $402,987 from the tax levy for an unpaid bill from FY2023,the final payment of the FY2023 annual assessment for the Minuteman Regional High School. This did not seriously impact the FY2024 budget, as the unexpended funds from FY2023 had become available as free cash. • Article 3 appropriated an additional$2,699,381 from the tax levy into the Capital Stabilization Fund (CSF), of which $2,303,236 will become a recurring appropriation per the Town Manager's Capital Stabilization Funding Framework. • Article 4 made minor adjustments to the FY2024 operating budget and enterprise funds. Line 2600 Facilities - Building Maintenance was increased by $85,000 to cover maintenance expenses for several small buildings that were not previously managed by the DPF. Appropriations for the Water and 1