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°` IIIA w III IIIA IIIA VIII':': TOWN MANAGER (continued) ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Hinaince Hurl ain Resources In February 2018, Moody's investors Service, Inc. The Ilurnan Resources Department spent a significant reaffirmed Lexington's AAA bond rating, citing the Towns amount of time in fiscal year 2018 bargaining with the strong tax base with continuing economic development activ.. Town's unions, The Town was able to reach settlements with ities,healthy reserves and a track record of voter support for the following unions through fiscal year 2018: Lexington Proposition 2..1/2 operating overrides and debt exclusions.In Municipal Employees' Association, Gary Memorial Library 2018, the Town issued $45.725 million in general obligation Staff Association, AF SCME Public Safety Dispatchers, and bonds for capital financing. The bonds were sold at a 3.014% AFSCME Local 1703 Building Custodians, The Town is interest and an average maturity of approximately .12.969 currently negotiating with the following bargaining units years. In June 2018,a bond anticipation note was issued for a for successor collective bargaining agreements: Lexington total of$12,116,855 million with a Net interest Cost of.1.56%. Police Superiors Association, Lexington Police Association, It was used to finance school facilities capital projects design AFSCME Local 1703 Building Custodians, and SEILJ Local and master plan, the Middle School additions and remodel.. 888 School Grossing Guards. ing,sewer improvements,and other capital projects. Other accomplishments of the Human Resources Capital Plain (2018 .— 2023) Department in fiscal year 2018 include: Coordinated the Town's annual open enrollment and pro.. Table 3 includes a list of all major capital projects for the 2018 * 2023 period that are likely candidates for debt exclusion cessed over 120 changes to active and retired employees' health,dental,and life insurance coverage. Votes. For each project, the year in which Town Meeting has taken action or is anticipated to vote is listed. * Completed recruitments and on-boarding for 73 position Projects listed in Phase 1 are those which the voters have vacancies throughout the organization, including .1 senior approved as exempt frorn the limits of Proposition 21/2- The management position and completed benefits enrollment projects listed in Phase 11 are projects that have been approved for approximately 60 new school department employees. in Town Meeting,but are still in the design stage and will likely * Worked with the Police Department to hire ten new officers be presented at Town Meeting over the next five years, through the Civil Service process. * With the assistance of the Wellness Coordinator,continued wellness workshops and the annual Wellness Day/Benefits Fair. 11111111111p11111 i11111g1 p1 VIII I U 11=Mj j I: 11gii1 II ill p1i11 IIII II II III IIS I1111 IIII M j Phase I Projects Amount School Facilities Project Design (March 2015) $4,080,000 School Facilities Project Design & Elementary Modular Class(Dec. 2015) $5,385,000 Clarke Middle School (March 2016) $19,941,058 Diamond Middle School (March 2016) $42,255,149 Hastings-net of Massachusetts School Building Authority funding (Dec 2017) $48,765,695 New Lexington Children's Place Pre-K(Dec 2017) $14,879,342 Fire Station with Swing Space (Dec 2017) $22,140,000 SUBTOTAL $157,446,244 Phase 11 Projects Amount Police Station (2019) $26,386,909 TOWN OF LEXINGTON 2018 ANNUAL REPORT I: 7 l