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2018-03-26-CEC-ATM-rpt
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2018-03-26-CEC-ATM-rpt
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12/14/2022 4:22:41 PM
Creation date
4/4/2018 1:00:38 PM
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Year
2018
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Capital Expenditures Committee
Department
Town Clerk
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Town Meeting CAPITAL EXPENDITURES COMMITTEE REPORT TO 2018 ATM
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CAPITAL EXPENDITURES COMMITTEE REPORT TO 2018 ATM <br /> See the CPA Summary in the Brown Book (Appendix C, Page C-7) for a summary of the CPF status <br /> including projects that have been funded from the CPF since its inception in Lexington and those being <br /> requested in FY2019 under Article 10. Also see the CPC's report to these Town Meetings for its <br /> projection of what the CPF balance would be after this Town Meeting if Town Meeting were to approve <br /> all of the CPC's recommendations. <br /> Enterprise Fund Projects <br /> The Town operates three enterprise funds (EFs) for revenue-producing activities funded outside the tax <br /> levy by user fees: water distribution, wastewater distribution [sanitary sewers], and certain Recreation and <br /> Community Programs (R&CP) services, such as the golf course, swimming pools, and tennis courts. <br /> Unlike property-tax revenues, enterprise-fund fees are not subject to a limit under Proposition 2%. <br /> Recreational playground restoration and equipment, in contrast, are not fee generating and capital <br /> investment for such equipment is therefore, normally funded as part of the small-ticket program of the <br /> GF. The 2012 amendments to the CPA expanded the range of recreation projects that are eligible for <br /> funding under that Act; therefore, many recreational projects have since have been submitted to our CPC <br /> with requests for use of the CPF as the fund source. That continues this year, many of the recreation <br /> projects coming before this ATM will be for full or partial funding from the CPF rather than from the <br /> R&CP EF or the Town's General Fund(GF). <br /> The R&CP Enterprise Fund has paid $100,000 per year for Lincoln Field debt service. The last such <br /> payment was on February 1, 2018, when that debt was retired. <br /> This Town Meeting will consider requests from the Departments that manage the Water, Sewer, and <br /> R&CP Enterprise Funds. (See Articles 15-18.) <br /> Revolving-Fund Projects <br /> Revolving funds established under the provisions of Massachusetts General Laws (MGL) Chapter 44, <br /> Section 53E%, must be authorized annually by Town Meeting vote. (As the Schools Food Service <br /> Revolving Fund was established, instead, under MGL Ch. 548 of the Acts of 1948, it does not require <br /> Town Meeting's annual authorization or appropriation to use it.) <br /> The fund is credited with only the departmental receipts received in connection with the programs <br /> supported by such revolving fund, and expenditures may be made from the revolving fund, without <br /> further appropriation, for those programs. <br /> Revolving funds are usually expended to cover non-capital costs and this Committee normally does not <br /> report on their annual authorizations unless a capital expense is contemplated. Such an expense is not <br /> contemplated in FY2019. <br /> 9 <br />
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