2000-03-12-CEC-min - Laserfiche WebLink

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Charles: Comments interspersed. Deborah: Figure this is the fastest way to tell you what I've changed in the spreadsheet. -Tom G- At 06:12 PM 3/12/2000 -0500, you wrote: >I disagree with some of your small-ticket items. > >1. We decreased the FY02 portable classrooms to $225K (3 rooms). Typo; fixed in attached spreadsheet, but I do think John Moynihan views their small-ticket request of $300K as more of a place holder than a firm budget request. Wing and a prayer. >2. I prefer to keep the big-ticket studies in the big-ticket budget. Putting >them here confuses the issue of how they get funded. If you leave them in, >at least mark them separately as funded through a debt exclusion. All accounting for big-ticket studies is confusing, because the funding base actually shifts provisionally from cash capital to big-ticket. I think we make our numbers impossible to follow for other Town finance people if we depart from the Town's method of presentation. I've responded to this issue in the new spreadsheet in two ways: (1) I did mark the big-ticket studies separately and totalled them separately; (2) Per our telephone call, I separated exempt BANs from nonexempt. Then I hid the accounting hair in the BAN section. (See formulae in line 28 of sheet "Available Cash Capital" in the attached spreadsheet. They count as bond revenue the sale of exempt bonds, but do not book a penalty for the payoff, because your friend, the debt exclusion has picked up the tab for you. On the other hand, the formulae that calculate interest need to do so until the exempt BAN is paid off, just like the case with the nonexempt BAN. Argh!) >3. For Street Resurfacing (Scenario 1), I intepreted the sense of the >committee some time ago that the $500K + Chapter 90 + $5M debt exclusion was >sufficient. I've been carrying 0 for this in FY02-FY05. I don't remember >when (if ever) this was discussed. The VHB study does say that $800K/year is >enough once we spend the $5M. I don't know that the Committee ever took a formal vote, but agree it's the rational thing to do. Hence, have changed the attached spreadsheet. By the