2019-03-25-AC-ATM-rpt - Laserfiche WebLink

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APPROPRIATION COMMITTEE-2019 ATM Introduction The Appropriation Committee is required to create a report with a review of the budget as adopted by the Board of Selectmen,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 appropri- ations of Town funds that are anticipated in the Town Warrant,and other municipal matters that may come before Town Meeting.This report is published and distributed to the members of Town Meeting as a printed document and 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 Com- mittee's formal position was pending at the time of publication. Committee Membership There have been no changes to the Committee's membership since the 2018 Special Town Meeting#1. In January 2019 the Committee elected new leadership as follows: Chair: Glenn Parker; Vice-Chair: Sanjay Padaki; Secretary: Alan Levine. Reserve Fund As of publication, the Committee has approved no Reserve Fund transfers during FY2019, and this fiscal year's balance remains at$900,000. Developments Since Adoption of the FY2019 Budge The Town held a Special Town Meeting in November 2018, at which time the Town's new growth figure for FY2019 was updated from $2,500,000 to $3,270,004. Article 2018-1.3 appropriated $550,000 to com- plete the design of the Center Streetscape project. Article 2018-1.5 appropriated$50,000 fund a feasibility study to determine feasible locations and future uses for the Hosmer House. Minor updates to the FY2019 budget were approved, and an additional $145,004 was appropriated into the Capital Stabilization Fund. 2