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<br />Selectmen's Meeting — January 11, 2010
<br />Mr. Burnell was pleased to accept this new scholarship fund because Mr. Worthen arranged for
<br />him and many others, to receive a scholarship to go to college.
<br />Mr. Kelley thanked the Worthen Family for the wonderful contribution and for the many years of
<br />important contributions to Lexington. He remembers being on the Battle Green for the 1 st
<br />Tricorn Hat award. He recently looked at the two books that Edwin Worthen wrote and learned
<br />that Edwin started the Battle Green Guide program and was teacher and trainer of Larry
<br />Whipple, who people remember as the Town Historian, which was a very important contribution
<br />for Lexington that continues today.
<br />Upon motion duly made and seconded, it was voted 5 -0 to accept the terms of the Edwin B.
<br />Worthen Scholarship Fund to be managed by the Trustees of Public Trusts.
<br />FY2011 Preliminary Budget and Financing Plan
<br />Mr. Valente presented the FY2011 preliminary budget and financing plan. This proposed
<br />balanced budget continues the Selectmen's theme of a budget that is sustainable.
<br />The proposed budget total of $145,331,900 is balanced given our FY 2011 revenue projections.
<br />Any reductions in state aid below FY2010 levels will be made up from the Stabilization Fund.
<br />The proposed budget includes $323,000, which is unallocated and can be used to: offset any state
<br />aid reductions, added to reserves, or fund unmet needs.
<br />The projected revenue for FY2011 is $5,526,498, which assumes level funded state aid. Part of
<br />revenue growth is the $1.1 million from the two new local option taxes and the levy on property
<br />taxes for utility poles and wires.
<br />The proposed budget addresses the following objectives discussed at the goal setting in July: a
<br />no- override budget, maintain adequate reserves to cushion budget for next 2 -3 years, maintain
<br />infrastructure funding, continue economic development efforts, continue funding of post
<br />employment benefits liability, realistically budget for snow removal and manage total
<br />compensation of employees. Two goals set but no progress on so far are continuing increases in
<br />health insurance costs and addressing road /intersection/traffic calming /sidewalk funding.
<br />The FY2011 recommended budget includes: School Department ($68,879,195), Minuteman
<br />Regional School ($1,750,000), Shared Expenses ($44,623,417), Municipal ($27,221,786, which
<br />includes an additional $250,000 for snow /ice removal), Cash Capital ($1,983,112), Reserves
<br />($829,399) and Warrant Articles ($45,000).
<br />Significant increases and decreases in the operating budget include: Health Insurance increase of
<br />$2,702,810, which is due to an increase in claims and additional employees /spouses added to
<br />health plan, Medicare Tax increase of $101,511, Debt Service increase of $197,740,
<br />Unemployment Compensation decrease of $68,700, Workers Compensation increase of $58,376,
<br />Public
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