2020-02-10-CPC-min - Laserfiche WebLink

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Ms. Kosnoff explained that the Center Track and Field note could be paid down with the additional surplus funds as well and would only reduce the ending CPF balance by approximately$500,000.The Committee could pay down the Center Track and Field in the amount of$1,951,444 in FY21 instead of$999,580 in FY21 and $951,864 in FY22. The Committee discussed the possibilities presented by Ms. Kosnoff. Mr. Hornig stated that he does not feel the need to revise fund balances. Mr. Pato stated that his preference would be to pay down the Center Track and Field and to recognize the Historic debt out of the historic bucket instead of the Unbudgeted Reserve. Ms. Kreiger stated that she would like to pay down the Center Track and Field. Mr. Kanter stated that money should always be used from the proper bucket before the Unbudgeted Reserve and not to bank money. Mr. Kanter explained that it is the Committee's obligation to recognize the surplus funds to inform the public. Mr. Pressman asked how much would be saved in interest if the Committee voted to pay down the Track. Mr. Kosnoff responded $30,000 or$40,000. Mr. Pressman stated that the Committee is considering spending an additional $951,864 but would not give money to LexHAB. Mr. Hornig stated that LexHAB withdrew their application. After a motion duly made and seconded, the Committee voted (7-1) to pay down the Center Track and Field in the amount of$1,951,444 in FY21 instead of$999,580 in FY21 and $951,864 in FY22. Mr. Pressman voted no. After a motion duly made and seconded, the Committee voted (7-1) to recognize $503,092 in surplus funds in FY20 and to amend the prior year's budget as well as increase the amount of debt service coming out of the Historic Resources Bucket and decrease the amount coming out of the Unbudgeted Reserve. Mr. Hornig voted no. After a motion duly made and seconded, the Committee voted (7-1) to amend the FY21 Warrant to Annual Town Meeting to increase Article 10 (n) Debt Service from $3,016,730 to $3,968,594. Mr. Pressman voted no. Review 3 sections of the CPC Report to 2020 Annual Town Meeting- Ms. Fenollosa reminded the Committee to review the 151 draft of CPC Report to 2020 Annual Town Meeting and to send any edits or comments to Ms. Federico before the next meeting on Thursday February 27, 2020. Committee Business- Mr. Pato updated the Committee on a procedural concern that will be discussed at the Select Board Meeting later that evening. Mr. Pato explained that the RFP for the FY19 CPA funded Athletic Lighting Facility had an add alternate and that there should be a procedural policy put in place to safeguard against issuing an RFP for projects that are different from what was presented and approved at Town Meeting. Minutes-After a motion duly made and seconded, the minutes from the Executive Session on 1-16-20 were approved as submitted (8-0). After a motion duly made and seconded, the vote to 2