2003-02-26-CEC-min - Laserfiche WebLink

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Town of Lexington Capital Expenditures Committee Draft Meeting Notes February 26, 2003, 7:30 p.m., Town Offices Committee members present: Bhatia, Hornig, Rosenberg, Stolz. Absent: Burnell Also present: resident Charles Lamb; Appropriation liaison Sheldon Spector Meetings Schedule Thursday, March 6, 7:45 p.m., Town Offices, Room 111: informal participation in Appropriation Committee meeting to brief on CEC and Selectmen capital budgets (not an official, posted meeting) Wednesday, March 12 , 7:00 p.m., Clarke Middle School, before TMMA briefing on budget Wednesday, March 19, 7:00 p.m., Clarke Middle School, before TMMA briefing on capital items; prepare for Town Meeting presentations Monday, March 24, 7:00 p.m. and Wednesdays and Mondays thereafter, TOWN MEETING CEC vs. Selectmen’s Capital Budget The two sets of recommendations differ in that CEC endorses purchasing the DPW Skywalker equipment ($110,000) and the Selectmen do not; and the Selectmen endorse Hastings School roof repair ($88,000), Visitor Center rewiring ($97,000), ADA accessibility program ($50,000), and Town Offices lighting ($350,000)—all of which CEC rejects. Financially, the programs differ as well. CEC assumes that in light of lower than forecast debt service costs, the $100,000 or so of forecast savings can be applied to fund the DPW building envelope study (which CEC would otherwise not fund). Accommodating that variance and the difference in program elements (listed just above), the Selectmen’s budget would spend $480,000 more on capital than CEC would, and would fund that by borrowing approximately $600,000 more than CEC recommends. Both the Selectmen’s budget and CEC envision borrowing for the LHS acoustical retrofit ($1,500,000) and landfill closure ($450,000), the top priorities for both groups.