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APPROPRIATION COMMITTEE REPORT TO 2010 ATM — MARCH 2010 Preface This preface contains general information about our reports and other sources of information. It is followed by an introduction setting forth the financial context from the last year, an overview of the revenue picture for fiscal year 2011 (FY2011) and the future, and a discussion of issues pertinent to the Town's general financial situation. We then present article -by- article discussions and recommendations on those articles that, in our opinion, have substantial financial relevance. Committee votes are always presented as the number of members for, followed by the members against, and lastly (when applicable) the members abstaining. Since this report is primarily intended to document our recommendations, we have tried not to repeat information that is readily available to Town Meeting members from other sources. In particular, an excellent overview of the estimated revenues and proposed expenditures for FY2011 can be found in the Town Manager's Report, published in the FY2011 Recommended Budget & Financing Plan, dated March 1, 2010 (the "Brown Book "). This document was distributed to all Town Meeting members and is available online'. Likewise, a great deal of information about the budget of the Lexington Public Schools can be found in the Superintendent's Budget Document (the "Blue Book ") and in the more recently published School Committee Town Meeting Budget Document, which is more concise and more up to date. Both of these school budget documents are available online 2 . Overviews from the Town Manager and Superintendent, as well as many details on the nuts- and -bolts aspects of the budget, may be found in these materials. In addition, the Brown Book summarizes relevant budget laws and bylaws (see Appendix B therein) and includes a glossary of financial terms (see Appendix D therein). The TMMA Warrant Information Report (March 2009) and the forthcoming report of the Capital Expenditures Committee (CEC) are also important references for this Town Meeting. Continuing a useful practice, we participated again this year with the Board of Selectmen, School Committee, and CEC in a series of budget collaboration/summit meetings wherein staff presented background information and the participating boards and committees discussed major issues relating to both revenues and expenditures in an effort to achieve consensus. It has again been a pleasure to work with Town Manager Carl Valente, Assistant Town Manager for Finance Rob Addelson, Budget Officer Micah Niemy, Superintendent of Schools Dr. Paul Ash, Assistant Superintendent for Finance and Operations Mary Ellen Dunn, the Board of Selectmen, the School Committee, the CEC, and the Community Preservation Committee (CPC). We also thank the many other municipal and school staff, Town officials, and citizens who have contributed to our work in a wide variety of ways. 1 FY2011 Recommended Budget & Financing Plan — http: / /www.1 exi ngtonma. gov /budget /fy2011budget. cfm 2 Lexington Public Schools budget material — http: //1 ps.1 exi ngtonma. org /busi nessandfi nance. html Page 4