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APPROPRIATION COMMITTEE-2018 ATM
<br /> Debt Service
<br /> The Debt Service amount included in the Shared Expenses budget does not include the amount needed for
<br /> service of exempt debt, because exempt debt service does not need to be appropriated by Town Meeting.
<br /> Please see the table below on Within-Levy and Exempt Debt Service budgets for a complete picture of
<br /> total Debt Service costs.
<br /> Category FY2018 FY2019 $ Change % Change
<br /> Appropriation Recommended
<br /> Net Within-Levy Debt Service(a) $7,194,508 $7,786,945 $592,437 8.2%
<br /> Use of Capital Stabilization Fund(b) -$324,500 -$573,500 -$249,000 76.7%
<br /> Mitigated Net Within-Levy Debt $6,870,008 $7,213,445 $343,437 5.0%
<br /> Service (a)+(b)
<br /> Exempt Debt Service(c.) $10,692,689 $14,185,445 $3,492,756 32.7%
<br /> Use of Capital Stabilization Fund (d) -$2,400,000 -$4,500,000 -$2,100,000 87.5%
<br /> Mitigated Exempt Debt Service $8,292,689 $9,685,445 $1,392,756 16.8%
<br /> (c)+(d)
<br /> Within-Levy &Exempt Debt Ser- $17,887,197 $21,972,390 $4,085,193 22.8%
<br /> vice(a)+(c)
<br /> The purchases of the real property at 20 Pelham Rd, and 173 Bedford St. were financed by issuing $12.4
<br /> million in bond anticipation notes (BANs). In FY2019 the plan is to allocate$3,050,000 to retire a portion
<br /> of these BANs. The amount in line (a) above is net of the $3,050,000. Please see the Brown Book,p. IV-
<br /> 14, for more information.
<br /> For FY2019, the exempt debt service budget is $14,185,445, which is a $3,492,756 or 32.7% increase
<br /> over the amount for FY2018. To mitigate the impact of excluded debt service on property tax bills in
<br /> FY2019, it is planned to use $4,500,000 from the Capital Stabilization Fund, which is $2,100,000 or
<br /> 87.5%more than in FY2018.
<br /> Reserve Fund
<br /> The Reserve Fund is intended for extraordinary and unforeseen expenses. Transfers out of the Fund are
<br /> done with the approval of the Appropriation Committee.
<br /> The FY2019 funding request for the Reserve Fund is $900,000, which represents level funding since
<br /> FY2014. Unused amounts at the end of the year flow to Free Cash.
<br /> Public Facilities
<br /> The Department of Public Facilities manages the operation and maintenance of Lexington's municipal
<br /> and school buildings. The Department supports the operation of the Community Center, supports the
<br /> School Master Planning process, manages recurring maintenance of roofs, building envelopes, and
<br /> HVAC systems in municipal and school buildings, and implements other priority projects. The FY2019
<br /> projected total Public Facilities operating budget is $10,733,728 which represents a $140,742 or 1.3%
<br /> increase over FY2018.
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