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<br /> March 31, 2008 <br />Minutes <br />Town of Lexington Appropriation Committee <br />March 31, 2008 <br /> <br />Place and time: Cary Memorial Building, Legion Room, 6:40 p.m. <br /> <br />Members present: Alan Levine (Chair), Deborah Brown (Vice Chair), John Bartenstein <br />(Secretary), Richard Eurich, Pam Hoffman, Susan McLeish, Eric Michelson, Rob <br />Addelson (ex officio, non-voting) <br /> <br />Others present: Dawn McKenna (Tourism Committee), Richard Pagett (Community <br />Preservation Committee & Center Committee), Jane Pagett <br /> <br />1. Article 23 Rescind Prior Borrowing Authorizations. <br />Two items will be <br />included: <br />a) Art 30B – 2005 – White House Planning – School Admin. This would <br />rescind $154K of a $240K authorization. <br />b) Art 32C – 2005 – Traffic Signal Improvements – Lowell & Maple. This <br />would rescind $25K of a $75K authorization. <br />These items have been presented to CEC and they have no objections. The Board <br />of Selectmen voted to support it. The Committee recommends support (7-0). <br /> <br />2. Liberty Ride. <br />The Board of Selectmen are asking Town Meeting to establish a <br />revolving fund for the Liberty Ride. A cash flow analysis conducted by Rob <br />Addelson suggests that the revolving fund should be funded with $20K. To <br />achieve this, $17,500 would come from a reduction in the appropriation to the <br />Reserve Fund, and an additional $2659 transfer will come from the Selectmen’s <br />gift fund. Town Meeting must first establish the revolving fund under Article 8. <br />Then the following changes must be made to Article 4: <br />a) reduce line item 2300, Reserve Fund, to $532,500, <br />b) reduce line item 7300, Economic Development Personal Services, to <br />$92,212, <br />c) reduce line item 7300, Economic Development Expenses, to $14,166. <br />The Committee recommends support (7-0). <br /> <br />3. Reserve Fund Transfer Request. <br />Rob Addelson presented a request to transfer <br />$40,000 from the Reserve Fund to line item 8220, Town Manager’s Legal <br />Services. Due to extended contract negotiations and an ongoing disciplinary <br />hearing, this line item is under funded, and $39,000 is currently due. The balance <br />in this line item is $630 and the Reserve Fund balance is $369,000. Legal fees <br />will continue to accumulate even after this transfer, and the staff will evaluate <br />anticipated expenses through the year. Options to fund this line include funding <br />under Article 27, 3% transfers or additional Reserve Fund transfers. The <br />Committee unanimously supports this (7-0). <br /> <br /> - 1 - <br /> <br />