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APPROPRIATION COMMITTEE 2 " REPORT, April 21, 2007, TO 2007 ATM any no- longer- needed authority should be rescinded so the Town's financial records and reports are not cluttered with outdated authorizations. However, the Town Manager advises that the Lexington Conservation Cormnission —which was a proponent of the 1999 action and is the steward of much of the Town's open space—in the absence of knowing whether CPA funding will be made available for conservation -land purchases, prefers to retain the option of funding outside of the CPA and has requested Indefinite Postponement of this Article. The majority of this Committee (7 -1) takes no position with regard to Indefinite Postponement of this Article, but unanimously (8 -0) looks forward to readdressing the rescission of the 1999 authorization at the next Town Meeting (special or annual). Article 39: Establish Funds Requested Funding Committee and Appropriate to Source Recommendation Specified See details below GF Approve (7 -0) Stabilization Funds regarding Four new Stabilization Funds This Article seeks to establish four different, specified, stabilization funds. Appropriations for these stabilization funds would come from existing and future special revenue accounts. Historically, funds in these special revenue accounts were spent without specific appropriation, but because of recently issued Massachusetts Department of Revenue guidelines, as well as a goal of making those transactions more transparent, the Town now seeks to establish specified stabilization funds instead. The proposed funds are as follows: 1. Transportation Demand Manaeement (TDM) /Public Transportation Stabilization Fund. The fund would support the operations of the LEXPRESS bus service. It is proposed that $58,000 be appropriated from the LEXPRESS TDM special revenue account to this fund. That TDM account has been funded by payments from multiple developers over time. The $58,000 would then be appropriated from this newly created stabilization fund under Article 21 to support the LEXPRESS operation, which is a component of the DPW operating budget in FY2008. 2. Traffic Mitigation Stabilization Fund This fund would finance traffic mitigation projects pursuant to conditions of special permits issued by the Town. It is proposed that $220,035.99 —which are all the unencumbered funds—be appropriated from the TDM Avalon Bay special revenue account to this fund. There is no proposed Article 21 appropriation of these funds for FY2008. 3. School Bus Transportation Stabilization Fund This fund would support the transportation of students to and from school on a daily basis. It is proposed that $200,000 be appropriated from the School Transportation Avalon Bay special revenue account to this fund. Out of this amount, it is proposed that $65,000 be appropriated under Article 21 from the newly created stabilization fund to support school -bus transportation costs in the FY2008 school budget. 4. Section 135 Zoning BY -Law Stabilization Fund This fund would be used improvements pursuant to Section 135 of the Code of the Town of Lexington. The establish this fund at this time, with no proposed appropriation into or out of t anticipates that future payments from developers could be appropriated into this fund. This Committee unanimously (7 -0) approves this request. to finance public Town seeks only to he fund. The Town Page 16 of 24