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APPROPRIATION COMMITTEE REPORT—APRIL 2006
<br />Extract of Appendix C from
<br />DRAFT #08 3 Apr 2006
<br />C-3: Town Manager’s February 9, 2006 Reserves Analysis
<br />
<br />Town of Lexington
<br />FY 2007 Budget Development
<br />Reserves Analysis
<br />The following attempts to review & show the changes in reserves and contingency accounts over a three year period - FY 2005-FY 2007.
<br />CategoryAmount as of 6/30/2005Amount as of 6/30/2006Amount as of 6/30/2007
<br />Stabilization Fund
<br />Start$ 111,142Start$ 918,464Start$ 1,522,111
<br />Add$ 807,322Add$ 603,647(New)Add$ 2,000,000(From FC)
<br />Finish$ 918,464Finish$ 1,522,111
<br />Add$ 650,000(New)
<br />Finish$ 4,172,111
<br />Free Cash
<br />Start$ 2,323,201Start$ 2,173,201Start$ 4,047,500
<br />(Change in FC) 1
<br />Subtract$ (150,000)Add$ 3,236,764Subtract$ (2,000,000) (to SF)
<br />Finish$ 2,173,201Subtract $ (962,465) (Fall TM Supp.)Subtract$ (2,000,000) (for Operating)
<br />Subtract $ (150,000) (Spr.TM Supp. - Est.)Add$ 950,000(NESWC)
<br />Subtract $ (250,000) (NSTAR/Fiske)Add$ 250,000(NSTAR/Fiske)
<br />Finish$ 4,047,500Add$ 750,000(Est. Turnbacks & Revenues)
<br />Finish$ 1,997,500
<br />Oper. Contingencies
<br />Reserve Fund$ 300,000$ 150,000$ 300,000
<br />Unisured Liabilities$ -$ - $ 35,000
<br />2
<br />Workers Compensation
<br />$ -$ - $ 20,000
<br />$ 300,000$ 150,000$ 355,000
<br />Totals$ 3,391,665$ 5,719,611$ 6,524,611
<br />Notes
<br />1
<br /> Of this amount, $1,852,214 from one-time investment proceeds from secondary school projects.
<br />2
<br />Anticipated balance left in Continuing Balance Account, to be created.
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