2018-03-26-AC-ATM-rpt - Laserfiche WebLink

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APPROPRIATION COMMITTEE-2018 ATM In the last several years,judicious use of some of the fund's accumulated retained earnings as cash capital has helped to defray the impact of these growing debt service costs and maintain long-term rate stability. Since "surplus"retained earnings are not available this year to apply toward the system's long-term capi- tal needs,the complete improvement costs are proposed to be funded again exclusively by debt. Given the ongoing and consistent nature of the wastewater system's upkeep and improvement program, an alterna- tive would be to return to at least a partial cash capital program and raise part or all of the funds needed for each year's capital program needs in the rates, while continuing to include excess retained earnings in the mix if, as and when they are available. However, since making such a changeover in a single year would result in a significant one-time rate boost, the all-debt proposal is a reasonable one for this year. For a more complete discussion of the status and use of water and wastewater enterprise fund retained earnings, see the discussion of enterprise funds under Article 5. Note that in addition to the sewer main and pumping station improvements discussed above, under Article 16(f), an appropriation of$375,000 in Wastewater Fund debt will be requested to fund half the cost of an automated meter reading system, shared 50-50 with the Water Enterprise Fund. This would be the first of three phases,with similar appropriations requested in FY2020 and FY2021. The automated meter reading system would provide greater accuracy, facilitate closer monitoring of usage and improve leak detection. The Committee recommends approval of this request(9-0). Article 19: Appropriate for School Capital Projects and Equipment Funds Requested Funding Source Committee Recommendation $1,715,300 GF debt Approve (9-0) This article requests funds to address the School District's strategic goal to enhance the capabilities for using technology in instruction and administration, including replacements and new purchases of iPads, Chromebooks, laptops,robotic kits, interactive projector/whiteboard units, servers and network infrastruc- tures. This request is part of the District's five-year plan to allocate $1,700,000 per year for the next five years from FY2019 through FY2023, except for an estimated dip in FY2021 to $1,200,000 due to fewer devices that will need to be replaced that year. For a more detailed discussion of the items in this request,please see the Capital Expenditures Committee Report to the 2018 Annual Town Meeting and the Brown Book page XI-10. The Committee recommends approval of this request(9-0). 43