2011-10-19-AC-min - Laserfiche WebLink

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October 19, 2011 • Stabilization fund — The stabilization fund is in fairly good shape although it has not yet reached the target recommended several years ago by the Fiscal Policy Committee. There have been three difficult years, and while the Town has not added much to the fund over the last couple of years, it has also not needed to make any withdrawals. The Committee was not prepared to make any recommendation to the Board of Selectmen (BoS) at this time, but Mr. Valente said he would bring the individual comments of Committee members to the BoS at its meeting on Monday. School Committee Presentation on Article 2 (Bridge and Bowman Reconstruction): School Committee Chair MaryAnn Stewart and School Member Margaret Coppe made a presentation on the Bridge and Bowman Schools reconstruction project, beginning with a brief history of the School Department's ten -year master plan. The first plan was done in 2006 with Design Partnership of Cambridge and was redone in 2009. An expanded plan was approved by the School Committee in November and will go forward to Town Meeting with a revised estimate of about $22.5m (this amount is an estimate of the total project cost based on 80% completion of the design, and includes design funds already appropriated). Specific parts and phasing of the project were discussed (FF &E, landscaping and windows) (the committee wanted to know why these were not included in the cost of the design) as well as when the work will be done to have the least impact on the school year, budget, scheduling contingencies and school enrollment. Mr. Cohen asked if there were any monetary incentives as well as penalties for either finishing the project early or behind schedule. Ms. Stewart was not aware of any such language being in the contract. The expectation is to have necessary reviews accomplished to obtain building permits on 11/8. There will be an update from the Estabrook architect at the 10/25/11 School Committee meeting and an update on all building projects at the 11/8/11 meeting. Further information can be found on the Bridge and Bowman school websites, to which Committee members were referred for background in writing up their report on Article 2. Updated Article Assignments. Article 2: Bridge and Bowman School Reconstruction - Alan Levine, Mollie Garberg and Jonina Schonfeld Article 3: Fire Communication System - Richard Neumeier; Mr. Parker will provide some information on this article from the CEC meeting on 10/18/11. Article 4: FY12 Operating and Enterprise Fund Budgets - John Bartenstein and Glenn Parker Article 5: Specified Stabilization Funds -Eric Michelson Article 6: Stabilization Fund - Eric Michelson Article 7: Authorized Capital Improvements - Eric Michelson 3