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Home My WebLink About2015-03-23-CEC-ATM-STM-rpt (Updates 04-15-15) rd UPDATES TO CAPITAL EXPENDITURES COMMITTEE REPORT TO 2015 ATM & STMs (Mar 23) CEC APITAL XPENDITURES OMMITTEE TL OWN OF EXINGTON UPDATES TO THE REPORT TO THE 2015 ANNUAL TOWN MEETING (ATM) & 2015 SPECIAL TOWN MEETINGS, March 23, 2015 (STM) (Released March 16, 2015; Errata Released on March 19, 2015) Released April 15, 2015 Submitted by: Jill I. Hai, Chair David G. Kanter, Vice-Chair Elizabeth DeMille Barnett Rodney Cole Wendy Manz Starts on reverse rd UPDATES TO CAPITAL EXPENDITURES COMMITTEE REPORT TO 2015 ATM & STMs (Mar 23) This document provides updates and four additional corrections to the CommitteeÈs report. (Two corrections were in the earlier Errata publication.) The updates reflect the changes that have come to the CommitteeÈs attention as of the publication of this document or revised Committee positions and explanations that were either verbally made to Town Meeting during its deliberations or that are expected still to be presented to the 2015 ATM. (If an update is material to the CommitteeÈs position as verbally presented to the Meeting, the change from the original report was or will be identified at that time of that presentation.) Page 46: a. In the 1st full paragraph (ÅThis Committee.¼Æ), 1st sentence, change ÅbuildingsÆ to ÅhouseÆ. b. Add as a new paragraph following that 1st full paragraph: While two of the funding sources ($264,428 for Community Housing and $253,027 for Open Space; totalling $517,455) are CPA-category specific, only the use of $100,545 of the Unbudgeted Reserve must be analyzed regarding assignment to CPA categories. (That assignment has no bearing on the financial sourcing, but is just for tracking how the Town is using the funding to meet the objectives of the CPA.) That use includes $5,545 related directly to Community Housing (including the $3,000 for protection of the house) and $95,000 for ancillary costs (legal and other miscellanous purposes related to the purchase and use of the property). This CommitteeÈs approach is to assign the ancillary funding in the same proportion as the category-specific funding. In this case, that category-specific funding (including the $5,545) is 51.6% for Community Housing and 48.4% for Open Space. That results in the $95,000 for ancillary costs having $49,020 assigned to Community Housing and $45,980 to Open Space. The total appropriation then has $318,993 allocated to Community Housing and $299,007 to Open Space. Page 47: In the Article 11 header table, Funding Source: a. Change Å$10,076,825 GF (Debt)Æ to Å$10,005,743 GF (Debt)Æ. b. Append at the end Å + $71,082 Unexpended Cash BalancesÆ. Pages 48 & 49: In sub-Article (c): a. In the header table, change the Funding Source to Å$43,343 GF (Debt) + $225,575 GF (Free Cash) + $71,082 Unexpended Cash BalancesÆ. b. Add, at the end (on Page 49), as a new paragraph: The following table identifies the Unexpended Cash Balances from prior appropriations that are being reappropriated as part of the funding of this capital effort: Unexpended Cash Balances to be Re-Appropriated Original AppropriationOriginal PurposeAmount 1996 ATM, Article 14Library Construction$4,513 2009 ATM, Article 18ASchool Technology$721 2011 ATM, Article 12ASchool Technology$67 2012 ATM, Article 15BClassroom Furniture$78 2012 ATM, Article 11BPark ImprovementsÄHard Court Resurfacing$6,332 2013 ATM, Article 10AFire Pumper Replacement$47,687 2013 ATM, Article 13BClassroom Furniture$6,706 2013 ATM, Article 14MPublic Facilities Vehicle Replacement$4,978 Total$71,082 Pages 54 & 55: In sub-Article (q): a. In the header table, Change the Committee Recommends to ÅApproval 3Ã2Æ. 1 rd UPDATES TO CAPITAL EXPENDITURES COMMITTEE REPORT TO 2015 ATM & STMs (Mar 23) b. Change the last paragraph (ÅThe member in opposition¼Æ) to: The members in opposition to this project believe it is premature to provide this funding. Their concerns include, but are not limited to, that (1) exactly what will be purchased is not known; (2) the request is to fund the Åfull buyÆ of meters before any success has been demonstrated; (3) there is an insufficient understanding of just how the meters will be programmed with the expectation to achieve the presumed behavioral change; (4)there is no material change proposed in the enforcement activity (still just one Parking Enforcement Officer) to enhance the likelihood of the presumed behavioral change; (5) no requirement that employers will be required to work in parallel so employees are not using prime parking intended for customers; and (6) they have much doubt that in the Lexington context the expected change in behavior will be achieved and may, in fact, cause some customers to shop and visit elsewhere. Page 56: In the Article 14 header table, replace the Funding Source entry with Å$894,845 Water EF (RE) + $5,155 Unexpended Cash Balance from 2010 ATM, Article 13B, Rehabilitating StandpipesÆ Page 65: a. In Article 24, last table, Original Appropriation, 2nd row: Correct ÅArticle 3Æ to ÅArticle 2Æ. b. In Article 25: (1) Replace the header table with: Original Article 25: Rescind Amount for Rescission Committee Recommends Authorization Prior Borrowing Authorizations Approval (4Ã0) $3,264,471 See Below (2) Replace the next-to-last paragraph (ÅBeyond the rescissions¼Æ) with: Beyond the rescissions addressed under Article 24, there are the following additional rescissions: Original AppropriationPurposeAmountReason Public Works Project completed without needing this 2007 ATM, Article 36$2,261,871 Facilityremaining authority. Land PurchaseÄOff Project completed without needing this 2010 ATM, Article 9Marrett Road $1,002,600 remaining authority. (Cotton Farm Acquisition) Total$3,264,471 Seller financed, without interest and over two years, the $2,300,000 balance due on the $3,800,000 purchase after an initial CPF cash payment of $1,500,000. The first payment due against the balance was under a BAN (for cash received). That payment originally was to be $1,300,000 in FY2012, but was accelerated and discounted to $1,297,400 due to financing costs to be borne by the Town that had not been contemplated; leaving $2,600 of the overall authorization unused. (That BAN was paid off under the 2011 ATM, Article 8(k).) The last $1,000,000 payment was due on a BAN (but written for the seller as security only; no cash received; and thus did not use any of the bonding authorization) that was paid off as a debt service under 2012 ATM, Article 8(l). The authorization now being rescinded is the sum of those two unused debt authorizations. Page 66: In Article 26, header table, Funds Requested, last line: Change Å$18,175Æ to Å18,174.93Æ. 2 rd UPDATES TO CAPITAL EXPENDITURES COMMITTEE REPORT TO 2015 ATM & STMs (Mar 23) Page 67: In Article 30: a. Replace the header table with: Funds Funding Committee Article 30: Amend Budget Purpose Requested Source Recommends FY2015 Operating, Recreation $30,000 Recreation Recreation EF Approval (4Ã0) Enterprise EF Expenses (RE) And CPA CPA $1,000,960 CPA Debt CPA (Cash) Approval (5Ã0) Budgets Service (Enterprise & CPA only) st b. 1 paragraph (ÅÇTo see if¼Æ), next-to-last line, after Åthereto.Æ, correct by adding a closing quotation mark. st c. As a new paragraph after the 1 paragraph, add: Recreation EF The current estimate for the equipment needed for the Community CenterÈs exercise room is $60,000; however, that funding wasnÈt included in the CenterÈs capital budget and purchasing that equipment so the room is fully functional is considered important. DPF does not believe there will be a sufficient balance in the existing capital appropriation to finance that purchase. The requested increase in the EF budget, together with a matching amount that the BoS has authorized be spent from the SelectmenÈs Gift Account, will provide the funding needed for the exercise-room equipment. d. On the line before the next paragraph (ÅIt was contemplated¼Æ), add ÅCPAÆ. Page 69: In Article 42, last line: Replace the last clause (Åit believes.¼Æ) with "it believes that because of the imprecision and inherent redundancy of the Motion under this Article, it does not advance the cause.Æ. Pages E-1 & -2: a. Article 11(c): Replace Funding Source with Å$43,343 GF (Debt) + $225,575 GF (Free Cash) + $71,082 Unexpended Cash BalancesÆ b. Article 14: Replace Funding Source with Å$894,845 Water EF (RE) + $5,155 Unexpended Cash Balance from 2010 ATM, Article 13B, Rehabilitating StandpipesÆ. c. Article 25: Replace Request with ÅMultipleÆ; add ÅSee Article for original authorizations.Æ to Funding Source. d. Article 26: Correct Request to ÅMultipleÆ; add ÅSee Article for specifics.Æ to Funding Source. e. Article 30: In Description, change Å(CPA Only)Æ to ÅEnterprise & CPA OnlyÆ; replace Request with ÅMultipleÆ, and Funding Source with ÅSee Article for specifics.Æ. f. Article 31: Correct Request to ÅN/AÆ. g. Totals: In Description, change ÅTotalsÆ to ÅTotals (excluding values of the ÅMultipleÆ entries)Æ and replace Request with Å$34,509,925Æ. 3